America's Foreign Policy Practice Ecam

The New International Economic Order (NIEO) was primarily aimed at addressing and reducing the significant wealth disparities between developing and industrialized nations. This initiative emerged in the 1970s, largely stemming from the frustrations of developing countries over their marginalization in the global economic system and the perceived inequities in trade, investment, and development assistance. Advocates of the NIEO sought to reform international economic relations by promoting a fairer distribution of resources and wealth. This involved calls for changes in the structures of international trade and economic policies that they believed favored developed nations at the expense of developing ones. The NIEO aimed for a more equitable global economic framework, which included enhanced access to markets for developing countries, increased development assistance, and more favorable terms of trade. This focus on reducing disparities reflects the broader goals of many developing nations during that era, as they sought to assert their interests on the global stage following decolonization and amidst growing economic challenges. The movement toward a New International Economic Order served as a collective response to the imbalances in the existing international economic system.