| Abstract: | Conclusion The analysis presented here does not support the contention that the Lomé Convention is a turning point in the history of
relations between rich and poor nations, and the herald of a new economic order, more just and equitable. While Lomé does
not represent radical departures from the present system, it reflects the realization by the vulnerable, resource-poor EEC
that some concessions had to be made in the fields of trade and aid. The reforms include: greater trade preferences; STABEX;
some participation in the decision-making process of the EDF; financing of economic integration among the ACPs. These modifications,
however, do not repudiate the present system, but rather make it more viable. The power of the multinationals is in no way
affected, and the pattern of unequal development is left intact. Lomé-type relationships between the poor and rich countries
will at best provide the elites with increased resources which might lead to national capitalist development, strengthening
of the elites’ material base, and reproduction of the structure of dependence and inequality. |
