"...lively, topical and interesting...it will be widely read and deservedly so." - The Economic Journal The fourth edition of this established textbook has been revised to take full account of the onset of a world recession and the fall in commodity prices that have brought increased poverty to some of the world's poorest countries. The provision of aid has not expanded and national debt has escalated, in many cases to unmanageable proportions. These changes are set out in two new chapters on debt and aid trends, and documented in more detail in a new statistical appendix. Fresh evidence of the refusal of major Western governments to embrace the long-discussed New International Economic Order has meant major revisions and updating of the chapters on trade policy, multinational corporations and the international financial system. With its emphasis on clear, factual analysis, and lack of complex economic theory, this book remains the best available introductory account of the fundamental relationship between rich and poor countries.