Which of the following statements about the New International Economic Order (NIEO) is incorrect ?

(i) Give the Least Developed Countries (LDCs) control over their natural resources exploited by the developed Western countries.

(ii) Reduce the cost of technology from Western countries.

(iii) Provide the Least Developed Countries (LDCs) with a greater role in international economic institutions.

(iv) Provide the developed countries with a greater role in international economic institutions.

(iv) only

The idea of a New Inter - national Economic Order (NIEO) originated with this realisation. 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,
(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, and
(iv) provide the LDCs with a greater role in international economic institutions.