NIEONew International Economic Order
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42) For an account of the NIEO along with other alternative approaches to economic governance, see James Thuo Gathii, 'Third World Approaches to International Economic Governance" in Richard Falk, Balakrishnan Rajagopal & Jacqueline Stevens, eds, International Law and the Third World: Reshaping Justice (New York: RoutledgeCavendish, 2008) 255.
The NIEO was heralded as a tool to lessen global poverty and give
13) This then led to concerted new measures, vigorously promoted by the nonaligned developing countries at the UN, to address the existing inequalities between the richer and poorer nations, and for this purpose the establishment of an NIEO.
Before Ronald Reagan left office, the NIEO had disappeared from international discourse, along with any mention of the LOST.
71) Not surprisingly, developed countries opposed the establishment of the NIEO on the basis that it reflected a deep confusion between "political objectives" and "legal obligations,"(72) in that the profound difference between the two addressed the political objectives of development assistance for developing countries which may include political, economic, and even moral commitments, but not legal obligations.
216) More specifically, in response to the NIEO and the uncertain status of their investments in developing countries, developed states began to sign bilateral investment treaties (BITs) with developing states.
The smallest and economically least-advantaged developing countries, especially in Africa, became the strong proponents of pursuing NIEO obiectives within the UN Convention on the Law of the Sea (UNCLOS).
There is a great force in the demand for a NIEO, which seeks to establish world trade equations on a more equitable basis--which seeks, specifically, to stabilise the developing countries' export earnings; to find some kind of a stabilisation fund (in the form of Common Fund (CF) or the STABEX); to reduce the rising debt liability of the developing countries; and to demand preferential access to the developed countries' markets without the commitment to grant reciprocal privileges to them.
NCAC) to NIEO at the FGSEHS campus in North Miami Beach and said that a strategic alliance with NCAC is a win-win-win situation for students, schools, and NSU.
In this way, a NIEO will virtually come into being and both the North and the South will benefit.
global hegemony, the UN provided a forum for the emergence of a coalition of postcolonial states that culminated in the formation of the G-77 and the proclamation of the need for an NIEO.
In practice, the NIEO was primarily a transposition of Keynesian policies at the international level with an array of measures aimed at taming the vagaries of the market through public interventions that would provide developing countries with a more level playing field as weak newcomers in the international economic arena.