In the period between the end of the Second World War and the beginning of the 1970s, the conditions of the international economy have been met to a certain degree, thanks to the important role played
In the period between the end of the Second World War and the beginning of the 1970s, the conditions of the international economy have been met to a certain degree, thanks to the important role played by the international monetary, commercial and financial organizations of the Bretton Woods Conference of 1994. And the determination of the United States of America (Marshall Plan) to rebuild capitalist Europe on the other hand.
The trade prosperity that characterized this phase has had positive effects on international trade in general and trade in raw materials from developing countries as a result of the high international demand for them. Which created a kind of ambition for developing countries to improve their position in the international pision of labor by demanding a change in the structure of the traditional trading system based on the exchange of raw materials for industrial products.
At the same time, it was believed that the international trade environment was favorable to developing countries and developed countries alike to reverse the era of crisis and trade chaos and to build a trade system in which the conditions of international exchange were commensurate. The collapse of the international monetary system and the turbulence of the trading system were reversed. This crisis of the international trade system, on the one hand, and the growing awareness of developing countries on the adjustment of the system of international relations, were behind the call for a new international trade order.
Thus, this claim came first from the Group of Non-Aligned Countries in 1973 in Egypt, which called for the establishment of a new international trade order in which cooperation would dominate between developing and developed countries. The General Assembly of the United Nations supported this requirement by its resolution 3201 of 1974 on the declaration of a new, more equitable international trade order and equality among its parties. It may be noted that if the 1970s witnessed a strong beginning towards the formation of a new trade system, the crisis of the inflation that hit the capitalist trade system during the second half of the seventies and continued into the second half of the 1980s and the resulting new international monopolies in production and marketing led to the introduction of new rules on the international trading system has transformed the ambition of developing countries into development into illusion.
These changes and developments that characterized this phase were characterized by totalitarianism in production, protectionism and regional trade and posed the danger inherent in the prevailing trading system, causing the problems that have been hindered by international trade because of the violation of GATT rules and the rise of protectionist restrictions from industrialized countries.
These problems were the result of the substantial shortfall in developing countries' revenues from international trade and the rise in their external indebtedness to the degree of destabilization of the international trade system in general and of the trading system.
Perhaps the reflection on the changes and transformations that have crystallized since the beginning of the nineties, in particular, indicate that there are a number of factors and driving forces that are working on the formation of a new world trade order that differs in its characteristics and in its arrangements for trade conditions than those that prevailed from before. This phase was characterized by the growing role of multinational corporations, cross-regional and single-polar trade blocs, the dominance of the market mechanism and the birth of a new world trade system led by the World Trade Organization (WTO). All these factors and the technological and information developments have contributed to the emergence of the phenomenon of globalization, which has become the main feature of the new world trading order. The establishment of the World Trade Organization (WTO) comes in the light of the completion of the economic globalization of its three main mechanisms alongside the IMF and the World Bank. The trade system is one of the most important pillars of the economic system. Trade has played a major role in economic development. After the Second World War, the GATT was created to lead the world to trade recovery and prosperity and to be with the IMF and the World Bank the basic pillars of the global trade. It was then seen that trade liberalization was the right direction for economic development and preventing the recurrence of the economic recession. High growth rates for trade liberalization have a direct impact on production, consumption, labor and investment.