what do you understand by N.I.E.O . Explain its importance features
Answers
Explanation:
The New International Economic Order (NIEO) represents an alternative worldview of the global political economy to emerge during the 1970s.[1] More specifically, this worldview included a reconsideration of existing relationships, structures, and processes that were dominant in the global political economy of that time, and advocated for the universal integration of classical liberalism in the global economy.
Answer: In essence, the NIEO aims at social justice among the trading countries of the world. It seeks restructuring of existing institutions and forming new organisations to regulate the flow of trade, technology, capital funds in the common interest of the world's global economy and due benefits in favour of the LDCs
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