Practicing Success
Practicing Success
CUET Preparation Today
The idea of the New International Economic Order (NIEO) originated with the realization of the necessity to have sustained development.
Choose the correct options proposed by the UNCTAD as a reform of the global trading system.
A. LDCs to be given control over their natural resources which are exploited by the developed countries
B. Restrictions of the markets in order to protect the interest of western countries
C. LDCs to be given a greater role in the international economic institution
D. LDCs to be given technologies at a reduced cost
E. LDCs to be provided with nuclear arsenals
Choose the correct answer from the options given below: |
A, B, C only A, C, D only B, C, D only A, C, E only |
A, C, D only |
The correct answer is option 2- A, C, D only The idea of the New International Economic Order (NIEO) originated with the realization of the necessity to have sustained development. The United Nations Conference on Trade and Development (UNCTAD) brought out a report in 1972 entitled Towards a New Trade Policy for Development. The report proposed a reform of the global trading system so as to: (i) give the LDCs control over their natural resources exploited by the developed Western countries, (Statement A) (ii) obtain access to Western markets so that the LDCs could sell their products and, therefore, make trade more beneficial for the poorer countries, (iii) reduce the cost of technology from the Western countries, (Statement D) and (iv) provide the LDCs with a greater role in international economic institutions. (Statement C) |
