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  • 1. NEW INTERNATIONAL ECONOMIC ORDER KARTIKEY KESARWANI 500023956 R450212126
  • 2. RELEVANCE IN IR • The important aspects of the free markets principles were being modified and partially denied. • The NIEO program is generally for developing countries and the world knows the potential of these countries. • The NIEO is very important in establishing good economic international relations between developed and developing countries. • Economy always affects the IR of any country.
  • 3. INTRODUCTION • Dismal picture of the international economic structure had created a discontent among the developing countries. • Many developing countries were frustrated with their growth prospects and started demanding a better deal. • Developed countries want better financial possibilities to develop their economies. • As the world remains divided between North and South in the context of economic prosperity and poverty , the need for seeking economic justice will remain relevant.
  • 4. • NIEO is based on the assumption that the prevalent international order perpetuates and aggravates international inequalities. • Rallying in different organisations such as NAM, GATT & ,they UNCTAD, argued for fairer terms of trade and more liberal terms for financing development. • The success of OPEC, after 1973 crises acts as a catalyst to pull together developing countries in support of a call for NIEO in which their interests would be better represented.
  • 5. EMERGENCE • The origins of the NIEO can be traced back to the Havana Conference in 1948 and from economic and political tensions that had been building between the developing and developed nations. • Specific proposals for changes in the economic systems were advanced at the summit of NAM in Sept. 1973. • On May 1, 1974, the sixth special session of the UN General Assembly adopted a “Declaration on the Establishment of a New International Economic Order”.
  • 6. • In Dec. 1974, the GA approved the charter of Economic rights and duties of states. • In another resolution, the general assembly adopted at the same session a programme for establishment of an NIEO. • The NIEO is an 18 clause document that seeks certain changes in the international systems. • The Charter of Economic Rights and Duties, was adopted by the UNGA in its 29th session in 1974.
  • 7. WHAT IS NIEO? • NIEO constitutes a framework for eliminating the existing era of international economic systems, with all its features and interests of the developed countries to the detriment of the third world. • It seeks to end the imbalances inequalities in the economic relations between the underdeveloped and the developed worlds. • Seeks to end the monopolistic controls of the developed countries over international trade after world war.
  • 8. NEED FOR NIEO • Due to the sharp and big changes in the international system of the post war pd. • Weakened position of Europe , emergence of two super powers, emergence of cold war, rise of strong anti imperialist and anti colonialist movements. • The rise of new consciousness among the newly emerged countries of Asia, Africa & Latin America, the examples of economic recovery secured by European countries.
  • 9. GENESIS OF THE NIEO • Substantial imbalance in the distribution of international monetary reserves. • Rich nations benefit disproportionality in the distribution of the value added to the products traded between themselves and the poor nation. • In order to protect and perpetuate profits and jobs in uncompetitive and declining sectors, nations resort to tariff protection of insufficient domestic industries while restricting immigration to maintain high wages. • Unfairly benefits to MNCs.
  • 10. DEMAND OF NIEO • • • • • • Restructuring of the existing economic order. Total recasting of the Bretten woods system. Increased and definite share in world trade. Grant of international developmental aid. Due share in international decision making. Writing off old – debts.
  • 11. FACTORS INFUENCE DEMAND FOR NIEO • The big North- South gap. • Ever widening gap between north and south. • Increased global interdependence but low role of the south. • Excessive exploitation of world income and resources by the developed countries. • Failure of the Bretten Woods. • Neo colonial role of the north over south.
  • 12. GOALS OF NIEO • Lay emphasis on the distribution of world economic resources among the rich as well as poor. • Mini income target. • Extent. • Morality. • Common interests.
  • 13. TENETS • Developing countries must be entitled to regulate and control the activities of multinational corporations operating within their territory. • They must be free to nationalize or expropriate foreign property on conditions favourable to them. • They must be free to set up associations of primary commodities producers similar to the OPEC; all other States must recognize this right and refrain from taking economic, military, or political measures calculated to restrict it. • International trade should be based on the need to ensure stable, equitable, and remunerative prices for raw materials, generalized non-reciprocal and nondiscriminatory tariff preferences, as well as transfer of technology to developing countries; and should provide economic and technical assistance without any strings attached.
  • 14. FAILURES • LDCs alleged that failure to realize the NIEO is due to lack of commitment and lack of their political will. • No structural changes observed in the international economic scenario after five years of adoption of NIEO. • Refusal by developed countries to implement the NIEO resolutions. • Due to lack of South’s power in world politics and the disparities created divergent interests among members state.
  • 15. CONCLUSION • A New International Economic Order is the only alt. that can go a long way in securing an equitable partnership between the rich and poor nations. • It can bring prosperity to poor nations and will create harmony between developed and developing countries. • NIEO would also bring a new market for the products of developed countries. • Demand for greater power for these international bureaucrats, disguised as a demand for more justice for the ordinary people of the developing countries.
  • 16. REFRENCES • International relations: Peu Ghosh • An Introduction to International Relations: Gulam Mohd. Dar • The New International Economic Order: Past Failures and Future Prospect- Miguel Wionczek • New International Economic Order: Robert Looney • Rationale and Relevance of the NIEO : Hiroshi KItamura • The New International Economic Order: HARRY G. JOHNSON

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