1 Separating Nations along an equatorial and economic divide, the phrase "North-South relations" is relatively new terminology used to discuss an old relationship between early industrializing, developed countries and the developing countries of the world. During the years 1974 and 1975, while the world was in a precarious position,l Arab oil wealth rose to prominence in the new international order.2 The Arabs, taking due advantage of the new position, made a dramatic international breakthrough which involved all of the Third world. This entailed historically precedential meetings known as the North-South Dialogues in which the rich and poor countries discussed, at a global level, the need to reform wealth distribution in the world. Credited as the instigator of this program was President Boumedienne of Algeria who expressed his vision of the economic emancipation of the peoples of the third world in a United Nations speech on 10 April 1974.3 Yet, the...
