The New International Economic Order

The New International Economic Order (NIEO) is a set of proposals from developing countries during the 1970s aimed at reforming global economic practices. It seeks fairer distribution of wealth, resources, and opportunities, addressing imbalances caused by colonialism and unfair trade. The NIEO emphasizes developing nations’ rights to control their own resources, improved access to technology, and better terms in international trade, fostering more equitable growth worldwide. Its goal is to reduce poverty and ensure that economic globalization benefits all countries, especially those that were historically marginalized.