The book under review is a concise but fairly in-depth study of the prospects for export diversification from the Less Developed Countries (henceforth labeled as LDCs) particularly to Developed Countries (henceforth labeled as OCs). Given the multiple problems faced by the LOCs in exporting to the OCs – protectionist policies with regards to manufactured exports, volatility of prices obtained for raw material exports, etc. – the study analyses the potential for following an intermediate route. The important issues in the export of semi -processed and wholly processed raw materials are discussed. 111ese issues range from the problems and potentials for the location of processing facilities in the LOCs to the formulation of appropriate policies to encourage an export of processed goods rather than raw materials. Such policies will be useful both in solving the balance of-payments problems of the LDCs and in attaining the goal of the Lima Declaration and Plan of Action on Industrial Development and Co-operation, that called for 2S percent of world industrial production to be located in the LOCs by the year 2000.