statement about the nieo

Answer 1

The final answer:

Here’s a clear and concise statement about the New International Economic Order (NIEO):

The New International Economic Order (NIEO) was a set of proposals put forward in the 1970s by developing countries (Global South) to promote greater equity and fairness in the global economic system. It aimed to address the economic imbalances between wealthy industrialized nations and poorer developing countries by advocating for fairer trade terms, increased development aid, debt relief, regulation of multinational corporations, and greater decision-making power in international institutions. The NIEO reflected a call for restructuring the global economy to support the sovereignty, development, and self-reliance of less-developed nations.