32. Evaluate the New International Economic order of 1970's.
Answers
Answer:
The New International Economic Order (NIEO) was a set of proposals put forward during the 1970s by some developing countries through the United Nations Conference on Trade and Development to promote their interests by improving their terms of trade, increasing development assistance, developed-country tariff reductions, and other means.
MARK ME AS BRAINLIEST !!
Answer:
Promulgated as a United Nations declaration in 1974 (reprinted as the frontispiece to this special issue of Humanity), the NIEO was the most widely discussed transnational governance reform initiative of the 1970s.
The New International Economic Order (NIEO) was a set of proposals put forward during the 1970s by some developing countries through the United Nations Conference on Trade and Development to promote their interests by improving their terms of trade, increasing development assistance, developed-country tariff reductions ...
The crucial aim of the NIEO is to promote economic development among the poor countries through self- help and South-South co- operation. The NIEO intends to deal with the major problems of the South, such as balance of payments disequilibrium, debt crisis, exchange scarcity etc.
FAILURES • LDCs alleged that failure to realize the NIEO is due to lack of commitment and lack of their political will. ... Refusal by developed countries to implement the NIEO resolutions. • Due to lack of South's power in world politics and the disparities created divergent interests among members state.