Redistributing the world's wealth: Cancun ‘summit’ discord

The aim of the North-South ‘summit’ conference in 1981 was to bridge the wealth gap between the few industrial nations and the hundred-odd poor countries. Unfortunately no firm proposals materialized. The rich nations refused to increase their aid transfers to the developing countries or to correct the growing inequalities in world trade. The multiplication of wealth is the basic concern of the North in an era of recession and unemployment. The division of wealth is an urgent necessity for the South, but their demands for a global reallocation of resources remained unmet. The gap is likely to widen considerably in future.