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Today's Paper | March 19, 2025

Published 17 Mar, 2025 06:09am

From The Past Pages Of Dawn: 1975: Fifty Years Ago: Unfair economic order

LIMA: The United States today [March 16] flatly rejected Third World charges that colonialism and imperialism were responsible for creating an unfair world economic order. The sudden, unexpected U.S. attack on the point of view that has prevailed at the Second Congress [of] the United Nations Industrial Development Organisation … since it opened here in the Peruvian capital … was made in closed session and was supported by several industrialised capitalist countries.

The [US], Japan, West Germany and a few others objected to seeing the rich countries blamed for worldwide economic and industrial imbalance. The American delegation also rejected attacks on transnational corporations. … Transnational corporations were necessary for the industrial development of the Third World, even if stricter regulation of their activities should be considered, the Americans maintained.

[Meanwhile, as reported by news agencies from Jerusalem,] US Secretary of State Henry Kissinger went into fresh talks with Israeli leaders tonight amid signs that his latest Middle East diplomacy was approaching deadlock.

Published in Dawn, March 17th, 2025

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