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The Cold War Era

Question
CBSEENPO12040259
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Analyse the NIEO of 1970s.

Solution
 The most of the non-aligned countries were the Least Developed Countries (LDCs) and their main objective was development and to lift their people out of poverty.
 The UN Conference on Trade and Development (UNCTAD) brought a report in 1972 entitled ‘Towards a New Trade Policy for Development’. It proposed the changes in the global trading system so as to :

(i) give the LDCs control over their natural resources.

(ii) obtain access to Western markets for the LDCs.

(iii) reduce the cost of technology from the Western countries, and

(iv) provide the LDCs a greater role in international economic institutions.

 Amidst 1970s the NAM became an economic pressure group due to NIEO. However, by 1980s,the NIEO initiative decreased due to stiff competition from the developed countries.

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