Why did developing countries pursue commodity cartels in the 1960s and 1970s?

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Developing countries pursued commodity cartels in the 1960s and 1970s to shift the terms of trade in their favor. Commodity prices were declining while the prices of manufactured goods were increasing, causing a decline in the terms of trade for developing countries. Cartels were seen as a way to collectively raise commodity prices and improve the terms of trade. This was seen as a way to improve the economic conditions in these countries.

Why Did Developing Countries Pursue Commodity Cartels in the 1960s