What was the New International Economic Order (NIEO)?

Question

Quizplus · Accepted Answer

The New International Economic Order (NIEO) was a radical call in the 1970s to help improve the impoverished South. It aimed to establish a more equitable international economic system that would provide fairer terms of trade, greater access to markets, and increased financial assistance to developing countries. The NIEO was driven by a group of developing countries who wanted to challenge the dominance of the capitalist North and create a new global economic system that would benefit all nations.

What Was the New International Economic Order (NIEO)