Why was there a need for new international economic policy (NIEO)? Give some four arguments
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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 ...
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ᴋᴇʏ ᴛʜᴇᴍᴇꜱ ᴏꜰ ᴛʜᴇ ɴɪᴇᴏ ɪɴᴄʟᴜᴅᴇᴅ ʙᴏᴛʜ ꜱᴏᴠᴇʀᴇɪɢɴ ᴇQᴜᴀʟɪᴛʏ ᴀɴᴅ ᴛʜᴇ ʀɪɢʜᴛ ᴏꜰ ꜱᴇʟꜰ-ᴅᴇᴛᴇʀᴍɪɴᴀᴛɪᴏɴ, ᴇꜱᴘᴇᴄɪᴀʟʟʏ ᴡʜᴇɴ ɪᴛ ᴄᴏᴍᴇꜱ ᴛᴏ ꜱᴏᴠᴇʀᴇɪɢɴᴛʏ ᴏᴠᴇʀ ɴᴀᴛᴜʀᴀʟ ʀᴇꜱᴏᴜʀᴄᴇꜱ. ᴀɴᴏᴛʜᴇʀ ᴋᴇʏ ᴛʜᴇᴍᴇ ᴡᴀꜱ ᴛʜᴇ ɴᴇᴇᴅ ꜰᴏʀ ᴀ ɴᴇᴡ ᴄᴏᴍᴍᴏᴅɪᴛʏ ᴏʀᴅᴇʀ ᴛʜʀᴏᴜɢʜ ɪɴᴛᴇʀɴᴀᴛɪᴏɴᴀʟ ᴄᴏᴍᴍᴏᴅɪᴛʏ ᴀɢʀᴇᴇᴍᴇɴᴛꜱ ᴀɴᴅ ᴀ ᴄᴏᴍᴍᴏɴ ꜰᴜɴᴅ ꜰᴏʀ ᴄᴏᴍᴍᴏᴅɪᴛʏ ᴘʀɪᴄᴇ ꜱᴛᴀʙɪʟɪᴢᴀᴛɪᴏɴ.
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