The Global South's Commodity Trap Turned Into a Debt Trap

The oil crisis and its consequences made it feel ike there may be concessions from the north atlantic world, including the united states. But i think it's important to remember that the n io was not just a kind of, a sort of fantasy of an alternative world order, but one that had to be taken seriously. The global south's commodity trap turned into a debt trap, which cemented this global hierarchy of nation by subjecting poor countries to financial institutions. And meanwhile, opeck, which was, in many ways, a flexing of global south economic muscl,. initially inspired these other commodity cartels ther arise and ultimately reveald that solidarity amongst oil producing global south states