Which of the following does NOT coincide with the idea of a New International Economic Order NIEO as...........

Economic Affairs Others

Which of the following does NOT coincide with the idea of a New International Economic Order (NIEO) as it was developed in the days of the cold war?

Give the Least Developed Countries (LDCs) control over their natural resources exploited by the developed Western countries

Make trade with the western countries more beneficial for the poorer countries

Provide the LDCs with a greater role in international economic institutions

Give LDCs greater voting rights in the World Trade Organization (WTO)

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Explanation:

Option D: There was no WTO at the time the idea of NIEO originated. Moreover, even presently all nations have equal voting rights in WTO. The United Nations Conference on Trade and Development (UNCTAD) brought out a report in 1972 entitled Towards a New Trade Policy for Development. The report proposed a reform of the global trading system so as to (apart from the above):

Help LDCs to obtain access to Western markets so that the LDCs could sell their products and, therefore, make trade more beneficial for the poorer countries,
Reduce the cost of technology from the Western countries, and
Gradually, the nature of nonalignment changed to give greater importance to economic issues.

In 1961, at the first NAM summit in Belgrade, economic issues had not been very important. By the mid-1970s, they had become the most important issues. As a result, NAM became an economic pressure group.