Explain the role of New International Economic Order (NIEO).

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asked Feb 5, 2018 in History by Golu (37,045 points) 19 144 412

Explain the role of New International Economic Order (NIEO).

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answered Feb 5, 2018 by faiz (82,347 points) 6 6 11
selected Feb 5, 2018 by Golu
 
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The Group of 77 or G-77 demanded a New International Economic Order (NIEO).
By the NIEO they meant a System that would give them:
(i) Actual control over their natural resources.
(ii) More development assistance.
(iii) Fairer prices for their raw materials.
(iv) Better access for their manufactured goods in developed countries' markets

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