Rodong Sinmun Friday observes this in a signed article:

Economic independence represents a material foundation to guarantee the sovereignty and independence of each country.

The people of many countries in Asia, Africa and Latin America gained political independence free from the colonial yoke and embarked upon the road of independent development after the Second World War.

But the people of not a few developing countries have not yet achieved economic independence and are facing a series of economic difficulties in the building of a new society.

At present the imperialists are pursuing a predatory policy aimed at meeting their own interests at the sacrifice of the interests of developing countries by taking advantage of their unchallenged position in the international economic relations.

In consequence, resources of developing countries and the fruits of labor of their people are sold to capitalist countries at giveaway prices. The foreign debts of developing countries are now snowballing and their people are subject to hard living.

Only when developing countries develop South-South cooperation can they get rid of imperialists' economic subjugation and dependence upon them and successfully build an independent national economy.

Successful progress in this cooperation would help bring the present old and unfair international economic system to collapse and build instead a new and fair international economic order.

Developing countries have the common interest in realizing the said cooperation for their common conditions and aspirations.

They have huge human resources and inexhaustible natural resources as well as experience and technologies good enough for exchange among themselves.

They are sure to realize South-South cooperation if they make a proper use of all conditions and possibilities and make joint efforts.

The vitality of the said cooperation is clearly proven in practice.