THE COLD WAR 1950 1973
THE COLD WAR
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Give the LDCs control over their natural resources
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Obtain access to Western markets
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Reduce the cost of technology from the Western countries
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Provide the developed countries with a greater role in international economic institutions
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Detailed explanation-1: -Statement d instead of granting a greater role in international economic institutions to LDCs, grants it to developed countries. This makes it a false statement with regards to the NIEO.
Detailed explanation-2: -The New International Economic Order (NIEO) was proposed to post the second world war. Its main objective was to bring reform in the governance of the world economy and enable the integration of the recently decolonized nations. It was based on certain essential principles of public international law.
Detailed explanation-3: -Key themes of the NIEO included both sovereign equality and the right of self-determination, especially when it comes to sovereignty over natural resources. Another key theme was the need for a new commodity order through international commodity agreements and a common fund for commodity price stabilization.
Detailed explanation-4: -The NIEO sought to establish a system that gave developing nations real control over their natural resources, more development assistance, fairer prices for raw materials and better opportunities to sell their manufactured goods in the markets of developed nations.