Question

Identify the correct pair regarding the 'New International Economic Order' (NIEO):

• A. UNCTAD Report 1972: "Towards a New Trade Policy for Development"
• B. LDCs: Least Developed Countries
• C. Aim: To give LDCs control over their natural resources
• D. All of the above are correct

Hint:

NIEO = Economic Justice for LDCs. If the options talk about helping poor countries control their resources, they are usually correct.

Answer 1

The Correct Option is D

Step 1: Understanding the Concept:
NIEO was a demand by developing nations for a fairer global economic system that didn't favor only the wealthy Western powers.
Step 2: Detailed Explanation:
1. UNCTAD Report: In 1972, the UN Conference on Trade and Development (UNCTAD) issued a report titled "Towards a New Trade Policy for Development," which formed the backbone of NIEO.
2. LDCs: In the context of global politics, LDCs refers to Least Developed Countries, primarily those that were part of the Non-Aligned Movement.
3. Aim of NIEO: The movement sought to give these poorer nations sovereignty over their natural resources, better access to Western markets, and lower costs for technology.
Step 3: Final Answer:
All the given statements are correct.