Editing Decolonization (section)

==== The emergence of the Third World (1945–present) ====
[[File:Africa cs poster.jpg|thumb|upright=.8|Czechoslovak anti-colonialist propaganda poster: "Africa – in fight for freedom"]]
Newly independent states organised themselves in order to oppose continued economic colonialism by former imperial powers. The [[Non-Aligned Movement]] constituted itself around the main figures of [[Jawaharlal Nehru]], the first Prime Minister of India, [[Sukarno]], the Indonesian president, [[Josip Broz Tito]] the Communist leader of [[Socialist Federal Republic of Yugoslavia|Yugoslavia]], and [[Gamal Abdel Nasser]], head of Egypt.<ref>{{Cite book |author=Nehru, Jawaharlal |title=Jawaharlal Nehru.: an autobiography. |date=2004 |publisher=Penguin Books |isbn=9780143031048 |oclc=909343858}}</ref><ref>{{Cite web |title=Non-Aligned Movement {{!}} Definition, Mission, & Facts |url=https://www.britannica.com/topic/Non-Aligned-Movement |url-status=live |archive-url=https://web.archive.org/web/20210227123949/https://www.britannica.com/topic/Non-Aligned-Movement |archive-date=27 February 2021 |access-date=10 July 2020 |website=Encyclopedia Britannica |language=en}}</ref><ref>{{Cite journal |last=Mukherjee |first=Mithi |year=2010 |title='A World of Illusion': The Legacy of Empire in India's Foreign Relations, 1947-62. |journal=The International History Review |volume=32: 2 |issue=2 |pages=253–271 |doi=10.1080/07075332.2010.489753 |jstor=25703954 |s2cid=155062058}}</ref> In 1955 these leaders gathered at the [[Bandung Conference]] along with [[Sukarno]], the leader of Indonesia, and [[Zhou Enlai]], Premier of the People's Republic of China.<ref name="maounknown">Jung Chang and John Halliday, ''Mao: The Unknown Story'', pp. 603–604, 2007 edition, Vintage Books</ref><ref name="Bogetić">{{cite journal |last=Bogetić |first=Dragan |date=2017 |title=Sukob Titovog koncepta univerzalizma i Sukarnovog koncepta regionalizma na Samitu nesvrstanih u Kairu 1964. |trans-title=The Conflict Between Tito’s Concept of Universalism and Sukarno’s Concept of Regionalism in the 1964 Summit of Non-Aligned Countries in Cairo |journal=Istorija 20. Veka |publisher=Institute for Contemporary History, [[Belgrade]] |volume=35 |issue=2 |pages=101–118 |doi=10.29362/IST20VEKA.2017.2.BOG.101-118 |s2cid=189123378 |doi-access=free}}</ref> In 1960, the [[UN General Assembly]] voted on the [[Declaration on the Granting of Independence to Colonial Countries and Peoples]]. The next year, the first Non-Aligned Movement conference was held in [[Belgrade]] (1961),<ref>{{cite web |date=6 September 1961 |title=Belgrade declaration of non-aligned countries |url=http://www.namegypt.org/Relevant%20Documents/01st%20Summit%20of%20the%20Non-Aligned%20Movement%20-%20Final%20Document%20(Belgrade_Declaration).pdf |url-status=usurped |archive-url=https://web.archive.org/web/20111008014412/http://www.namegypt.org/Relevant%20Documents/01st%20Summit%20of%20the%20Non-Aligned%20Movement%20-%20Final%20Document%20(Belgrade_Declaration).pdf |archive-date=8 October 2011 |access-date=23 April 2011 |publisher=Egyptian presidency website}}</ref> and was followed in 1964 by the creation of the [[United Nations Conference on Trade and Development]] (UNCTAD) which tried to promote a [[New International Economic Order]] (NIEO).<ref name="auto4">{{cite book |last1=Laszlo |first1=Ervin |title=The Objectives of the New International Economic Order |last2=Baker |first2=Robert Jr. |last3=Eisenberg |first3=Elliott |last4=Raman |first4=Venkata |date=1978 |publisher=Pergamon Press |location=New York, NY}}</ref><ref>{{cite book |last1=Mazower |first1=Mark |url=https://books.google.com/books?id=L7xvDwAAQBAJ&pg=PA310 |title=Governing the World: The History of an Idea |date=2012 |publisher=Penguin Press |isbn=9780143123941 |location=New York City |page=310}}</ref> The NIEO was opposed to the 1944 [[Bretton Woods system]], which had benefited the leading states which had created it, and remained in force until 1971 after the United States' suspension of convertibility from dollars to gold. The main principles of the NIEO are:

# The sovereign equality of all States, with non-interference in their internal affairs, their effective participation in solving world problems and the right to adopt their own economic and social systems;
# Full sovereignty of each State over its natural resources and other economic activities necessary for development, as well as regulation of transnational corporations;
# Just and equitable relationship between the price of raw materials and other goods exported by developing countries, and the prices of raw materials and other goods exported by the developed countries;
# Strengthening of bilateral and multilateral international assistance to promote industrialization in the developing countries through, in particular, the provisioning of sufficient financial resources and opportunities for transfer of appropriate techniques and technologies.<ref name="auto1">{{cite web |last1=Mahiou |first1=Ahmed |date=1 May 1974 |title=Introductory Note, Declaration of the Establishment of a New International Economic Order |url=http://legal.un.org/avl/ha/ga_3201/ga_3201.html |access-date=17 December 2020 |website=UN Audiovisual Library of International Law |ref=p. 3}}</ref>

[[File:Countries by Human Development Index (2020).png|thumb|upright=1.6|The [[UN Human Development Index]] (HDI) is a quantitative index of development, an alternative to the classic [[Gross Domestic Product]] (GDP), which some use as a proxy to define the [[Third World]]. While the GDP only calculates economic wealth, the HDI includes [[life expectancy]], [[public health]] and [[literacy]] as fundamental factors of a good [[quality of life]]. Countries in [[North America]], the [[Southern Cone]], [[Europe]], [[East Asia]], and [[Oceania]] generally have better standards of living than countries in [[Central Africa]], [[East Africa]], parts of the [[Caribbean]], and [[South Asia]].]]
The UNCTAD however was not very effective in implementing the NIEO, and social and economic inequalities between industrialized countries and the Third World grew throughout the 1960s until the 21st century. The [[1973 oil crisis]] which followed the [[Yom Kippur War]] (October 1973) was triggered by the OPEC which decided an embargo against the US and Western countries, causing a fourfold increase in the price of oil, which lasted five months, starting on 17 October 1973, and ending on 18 March 1974. OPEC nations then agreed, on 7 January 1975, to raise crude oil prices by 10%. At that time, OPEC nations – including many who had recently nationalized their oil industries – joined the call for a New International Economic Order to be initiated by coalitions of primary producers. Concluding the First OPEC Summit in Algiers they called for stable and just commodity prices, an international food and agriculture program, technology transfer from North to South, and the democratization of the economic system. But industrialized countries quickly began to look for substitutes to OPEC petroleum, with the oil companies investing the majority of their research capital in the US and European countries or others, politically sure countries. The OPEC lost more and more influence on the world prices of oil.

The [[1979 energy crisis|second oil crisis]] occurred in the wake of the 1979 [[Iranian Revolution]]. Then, the 1982 [[Latin American debt crisis]] exploded in Mexico first, then Argentina and Brazil, which proved unable to pay back their debts, jeopardizing the existence of the international economic system.

The 1990s were characterized by the prevalence of the [[Washington consensus]] on [[neoliberalism|neoliberal]] policies, "[[structural adjustment]]" and "[[shock therapy (economics)|shock therapies]]" for the former Communist states.