The policy promoted by states in the Global South that sought greater participation in the global economy was known as

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The New International Economic Order (NIEO) was a policy promoted by states in the Global South in the 1970s that sought greater participation in the global economy. The NIEO called for a more just and equitable global economic system, including fairer terms of trade, debt relief for developing countries, and increased financial assistance. It was a response to the existing Liberal International Economic Order (LIEO), which was believed to favor developed countries at the expense of developing ones. Import-Substitution Industrialization (ISI) and Export-substitution Industrialization (ESI) were economic strategies used by developing countries to promote industrialization and reduce dependence on imports or exports respectively, but they were not specific policies aimed at greater participation in the global economy. Foreign Direct Investment (FDI) is a form of investment where a company from one country invests in a company or project based in another country, and is not a policy promoted by states.

The Policy Promoted by States in the Global South That