It is nearly seven years since George Bush, the then president of the US, made his famous "New World Order" speech. This was in 1991. In the build-up to the Gulf War the main imperialist power on earth promised a world without wars, without dictatorships and, of course, a world firmly under the control of a single all- powerful world policeman--the US. After the fall of Stalinism, US imperialism really thought that the world would be firmly under their command and they would be able to dictate the destiny of each and every country. All conflicts in the world were to be solved through dialogue in a kind of "Pax Americana." Now all these dreams have been reduced to rubble. In this document Ted Grant and Alan Woods make an in-depth analysis of the history of the imperialist domination of the Third World and the way. Written in June 1998.