The enlarged Community will have an influence on the development of the third world that is second to none. It is the principal trading partner, the main banker, and is about to become the greatest aid-giver. Any number of decisions taken in Europe — the opening or closing of markets, the fixing of agricultural prices, labour market policies, monetary and even industrial policies, have an impact on the less developed countries (LDCs) which may be as great as or greater than the intended welfare effect at home: they may have a powerful influence on state budgets, and even on the social structure of a country and thus on the general direction of future development. The Community and the member states act; but such action often lacks both concept and coherence. Few would doubt that, in principle at least, Europe feels its world responsibilities — or rather its co-responsibilities, since it continues to measure its actions by those of the United States. But the precondition for responsibility is the intellectual and organisational capacity to account for one’s acts. Does Europe know what it is doing? Do its many right hands know what its many left hands are doing?
KeywordsCommercial Policy Free Trade Area Export Promotion Agricultural Export Main Banker
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