Economic Order

Economic Order

New International Economic Order (NIEO) and the GATT Policy Negotiations

In relation to the GATT Policy Negotiations, Christopher Mark (1993) provided the following explanation and/or definition of New International Economic Order (NIEO): 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 LDCs (also known as the “North-South Dialogue”). The term is derived from the Declaration for the Establishment of a New International Economic Order, adopted by the United Nations General Assembly in 1974, and refers to a wide range of trade, financial, commodity, and debt-related issues. While the term continues to have currency in academia, it has fallen into disuse in policy-related discussions.


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