The ‘North/South Dialogue’ which began in 1973 at the time of the OPEC‐induced oil price rises, is the latest stage in the ldcs' attempt to reform the international economic order. The Group of 77,. the ldcs' negotiating group, was formed in 1964 at the first UNCTAD Conference. The set of objectives which constitute the ldcs' current demand for a NIEO is described. The Group of 77 has maintained its unity in negotiations since 1964 to a degree which is impressive in view of the wide divergence in levels of development and types of economy among its membership. There is now more than ever a premium on the maintenance of this unity as the dcs turn inward and are disinclined to be ‘charitable’ to ldcs with the world economy going through its worst period since the Second World War. But the deterioration in the world economic situation has affected Group of 77 member countries in different ways and increased the difficulty of maintaining this solidarity. The strains showed at Manila.