This website uses cookies to ensure you have the best experience. Learn more

The New International Economic Order Essay

1265 words - 5 pages

The New International Economic Order

In the early 1960's the economic gap separating the first world from the third or other world began to explode. With the industrialized states controlling more than 3/4ths of the global economy the disadvantage facing the third world could easily be seen. Third world countries lacked the start-up capital, the education, and the technology to compete with the first world. In the early 1970's the United Nations began to listen to the cries from these third world states, and set out to develop a strategy at which to combat these problems. This strategy lead to the development of The New International Economic Order (NIEO) or the Group of 77 in 1974. The group consisted of 77 members " which would rectify what they see as the structural, global, economic inequality that operates to the Other World's distinct disadvantage" (Weatherby 90). The NIEO convened at the United Nations and proposed 6 major issues which they felt needed to be agreed upon in order for the third world states to close this economic gap which they faced.

The first of these issues was the idea that each state would be free to determine their own economic and political structure. This has not been the case though with Neocolonialism. On the surface it looks as though these third world countries have control over their economic and political structures because the control exercised over these states is indirect. " This influence is exercised through the interaction of the dominant nation's banking, business, cultural, and military leaders with the Other World's elites" (Weatherby 35). Because of the third world's dependence on dominant powers for economic survival they must in essence follow the desires of the more powerful states or face even greater poverty and economic hardship. The second issue facing the NIEO was the statement that each state was free to control their own natural resources. The issue upset particular rich states which had corporations located in third world states mining these different natural resources. Before this agreement rich states were basically stealing the only profitable items some of these third world states had to offer. With this issue it was stated that if there were any natural resources located in a states border. Than those resources belong to that individual state.

The third issue stated is that the prices of raw materials should be directly related to the prices of manufactured goods. This issue focuses on the continuing rise of inflation in the first world versus the stagnant growth of prices for raw materials produced by the third world. By looking at prices in the present time you can see that this issue was never accepted by all the members. The reasoning is that it would hurt us living in the developed world. As an example, the price of new automobiles has risen dramatically in just the past ten years. But the price of iron ore which is needed to make the steel frames for those automobiles...

Find Another Essay On The New International Economic Order

Building the New European Order Essay

1899 words - 8 pages Building the New European Order When World War II ended the final remnants of the old European order lay in ruins. With such devastation wrought upon the continent twice in less than fifty years, it was remarkable that Europe managed to recover. What is even more remarkable is the Phoenix that rose from these ashes, and the new feelings of unity that accompanied the ending of the war. Those nations of western Europe began to do what

What is The New World Order Organization?

1642 words - 7 pages the first Gulf War, a militarily-imposed order. A new world order worthy of the name, however, should represent something much more significant than the strategic reapportioning of power on a geopolitical level. It should involve the reapportioning of power through which global affairs become the people’s affairs. It should mean that international relations can no longer be conducted within the confines of intrinsically undemocratic arenas where

Explain the Economic Order Quantity (EOQ) from first principles

783 words - 3 pages Explain the Economic Order Quantity (EOQ) from first principles.EOQ, or Economic Order Quantity, was developed by F. W. Harris in1913, even if R. H. Wilson is recognized for his early deeply analysis of the model. Harris's original paper was disseminated; it actually was ignored for many years before its rediscovery in 1988. During this period, a lot misunderstanding developed over the origin of the EOQ model.The model is defined as the optimal

International Economic Policies In The 1990s

1124 words - 4 pages A book review -The book reviewed in this essay, International Economic Policy in the 1990s, was to focus on some of the most recent concerns about international trade. Its author, William R. cline, seems to have some good insights about the topic as it seems that he researched, taught and lectured about this field of study. The author tried to be as objective as possible and tried not to be biased by referring to the different opinions about

Indonesia's Economy: Socio-Political Challenges in the New Order

1821 words - 7 pages reformasi governments failed to comprehensively resolve these challenges, leaving Indonesia riddled in uncertainty, and thus leading to its economic sluggishness. ALL NEW RESEIMES ARE HARD TO IMPLIMENT SO MAY OF CONTRIBUTED TO THE ECONOMIC CLIMATE - Government & Business The post- New Order regimes have had to try and manage the aftermath of the Asian Financial Crisis (AFC), while simultaneously dealing with the repercussions of the Suharto

Room for a Cosmopolitan Future: Habermas and the New Order

1270 words - 6 pages polities could ensure the normative justifiability that would make its operation practically feasible. Thus, Habermas is suggesting a system founded not in consolidation through the establishment of an administrative institutional order, but rather through the establishment of a formalised cosmopolitan harmony (Habermas, 2002, p. 232). It seems that for Habermas, however, a regulatory framework for the new international system would necessarily be

International Trade in the New World

1003 words - 4 pages if not handled properly trade could also with hold a country from developing like Africa, which slavery was their primary trade which at the end left the country economically behind while flourishing the countries they traded with. Trade also brought more than just goods it also brought new followers of Christianity, but for Japan who recognize what other factors international trading brought close their ports in order to secure their nation from any foreign influence. International trading is a vital role within all countries even to this day. The importing and exporting of goods can determine a countries economic status.

The New Economic Policy of 1921

1493 words - 6 pages badly apprehended by many Bolsheviks and even though Lenin stressed that it was only a temporary concession to capitalism." We must take one steps back in order to take two steps forward." But what was temporary and should the party abandon the New Economic Policy? If yes, then when? The NEP was successful, but it was only a limited success. By 1926 the government could claim with some justification that it had achieved

Capitalistic Imperialism & the Formation of a New World Order - Germany 1870-1900

990 words - 4 pages which upset the balance of Europe. Finally, lacking any kind of established tradition, Germany was able to expand her influence how she wanted to.German imperialists argued that Britain's world power position gave the British unfair advantages on international markets. This limited Germany's economic growth and threatening security. European industrialists wanted to accelerate the Scramble for Africa, securing colonies before they strictly needed

Corruption in New Orleans Law & Order System in the Wake of Hurricane Katrina

2060 words - 9 pages all of the residents who relied and counted on their government to uphold their safety and rights. The Law and Order system relies on police officers, prosecutors, and many more to uphold the standards and rights citizens expect from the United States government. The New Orleans’ Law and Order system proved to be weakened and corrupted after Hurricane Katrina, proven by select cases experienced by residents of New Orleans. Lt. Travis McCabe and

Advocates for a New Social Order: Dickens, Marx, and the Trade Union in Hard Times

2651 words - 11 pages Advocates for a New Social Order: Dickens, Marx, and the Trade Union in Hard Times For over a century, Charles Dickens has been praised as being the working man's advocate, and the lower classes have played a major role in peopling his vast world of characters. Always, the reader is left with a sense of sympathy and pity for these characters as Dickens' journalistic descriptions of their plight are often dramatic, stirring, and pathetic

Similar Essays

The New International Economic Order Essay

1029 words - 4 pages The New International Economic Order The gap between the rich and the poor is growing more and more every day. Something has got to be done to solve this issue. In 1974 members of the Third World gathered together at the United Nations. Their purpose was to find the answers to solve the gap between the rich and the poor. A total of seventy-seven members proposed the NIEO, hoping this might solve the gap. The NIEO stands for the New

International Political Economy Essay – China And The New Economic Order

2989 words - 12 pages development that foregrounds class. Facing the "challenge of China" - a poor country thathas managed to rise up in the global capitalist order while dramatically increasing domestic class inequalities, and a nation with staggering ethnic, gender, urban- rural, andregional divides, as wellas a Chinese diaspora thatnotonlyhas no paral- lel in its population size and economic power in the world but also perhaps in its economic and cultural linkages with

The United Nations Conference On Trade And Development And The Establishment Of The New Economic Order

2498 words - 10 pages .................................................................................................6The establishment of the New International Economic Order ..................................................7The evolution of the New International Economic Order .........................................................9Contents of the NIEO ....................................................................................................9The New World Order

Haven The New Order Essay

3309 words - 14 pages . “What’s going on?” cried Sean, my little brother. “Nothing just follow Mel, I’ll be down in a couple of minutes. Help her keep the younger kids quiet.” “Okay, I’ll help her, be safe.” As the van crept closer I recognized the seal of the New Order, the group that took down our government and started running the country. The seal has become one of the most easily recognizable emblems, it’s a lit torch surrounded by thirteen stars. Underneath the