What do you mean by NIEO
Answers
Answer:
New International Economic Order
New International Economic Order (NIEO)
INTERNATIONAL COMMODITY AGREEMENTS to support developing countries' primary-produce exports; ... an increase in economic cooperation between the developing countries.
Answer:
New International Economic Order
Explanation:
The New International Economic Order (NIEO) represents an alternative worldview of the global political economy to emerge during the 1970s.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.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.