The New International Economic Order Essay -- United Nations Economics

The New International Economic Order In the early 1960's the economic gap separating the first world from the third or other world began to explode. With the industrialized states controlling more than 3/4ths of the global economy the disadvantage facing the third world could easily be seen. Third world countries lacked the start-up capital, the education, and the technology to compete with the first world. In the early 1970's the United Nations began to listen to the cries from these third world states, and set out to develop a strategy at which to combat these problems. This strategy lead to the development of The New International Economic Order (NIEO) or the Group of 77 in 1974. The group consisted of 77 members " which would rectify what they see as the structural, global, economic inequality that operates to the Other World's distinct disadvantage" (Weatherby 90). The NIEO convened at the United Nations and proposed 6 major issues which they felt needed to be agreed upon in order for the third world states to clos e this economic gap which they faced. The first of these issues was the idea that each state would be free to determine their own economic and political structure. This has not been the case though with Neocolonialism. On the surface it looks as though these third world countries have control over their economic and political structures because the control exercised over these states is indirect. " This influence is exercised through the interaction of the dominant nation's banking, business, cultural, and military leaders with the Other World's elites" (Weatherby 35). Because of the third world's dependence on dominant powers for economic survival they must in essence follow the desires of the more powerful... ...United Nations where each country would deposit 1% of its gross domestic product (GDP). This aid would then be distributed to countries on the basis of needs and not beliefs. As it stands right now the United States only gives 0.017% of it's gross domestic to foreign aid programs. In conclusion the NIEO was a strong attempt at closing the gap between the rich and the poor countries. But in the end the rich and more powerful countries still control everything. The developed countries continue to develop faster everyday. Making it harder and harder for the third world nations to catch up to our pace. It will be the developing nations final decision whether or not we will ever allow the third world to share in the same kind of lifestyle we have developed for ourselves today. Works Cited Weatherby, Joseph N., et al., eds. The Other World. New York: Longman, 1997.