Generalized Scheme of References n World Trade

Generalized Schemes of Preferences (GSP) have been hailed as a significant ""breakthrough"" for UNCTAD in its ten-year's effort to get the advanced capitalist powers to accept them. Seen from this formal standpoint such acceptance and part implementation of some of the schemes is indeed a point of departure because such acceptance amounts to an acknowledgement and admission by the monopoly capitalist groups that 'free trade' does not bring about development in the underdeveloped peripheries.