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Title A new economic order for global prosperity
Authors Louis, R.
Keywords economic stability
економічна стабільність
экономическая стабильность
economic growth
економічне зростання
экономический рост
fair trade
справедлива торгівля
справедливая торговля
economic prosperity
економічне процвітання
экономическое процветание
sustainability
стійкість
устойчивость
Type Article
Date of Issue 2017
URI http://essuir.sumdu.edu.ua/handle/123456789/61649
Publisher Sumy State University
License
Citation Louis, R. (2017). A new economic order for global prosperity. SocioEconomic Challenges, 1(2), 52-59. http://doi.org/10.21272/sec.1(2).52-59.2017.
Abstract The New International Economic Order (NIEO) was a set of proposals put forward during the 1970s by some developing countries through the United Nations Conference on Trade and Development to promote their interests by improving their terms of trade, increasing development assistance, developed country tariff reductions, and other means. It was meant to be a revision of the international economic system in favor of the Third World countries, replacing the Bretton Woods system, which had benefited the leading states that had created it. The term was derived from the Declaration for the Establishment of a New International Economic Order, adopted by the United Nations General Assembly in 1974, and referred to a wide range of trade, financial, commodity, and debt-related issues (1 May 1974, A/RES/S-6/3201). This followed an agenda for discussions between industrial and developing countries, focusing on restructuring of the world’s economy to permit greater participation by and benefits to developing countries (also known as the “NorthSouth Dialogue”). Along with the declaration, a Program of Action and a Charter of Economic Rights and Duties of States (12 December 1974, A/RES/29/3281) were also adopted.
Appears in Collections: SocioEconomic Challenges (SEC)

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