Assertion(A): G -77 was designed under Bretton Woods.

Reason(R): G -77 was created by the developing nations to have a control over natural resources, development, fair prices and better access for their manufactured goods in developed countries' markets.

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Both (A) and (R) are true and (R) is the correct explanation of (A)

Both (A) and (R) are true and (R) is not the correct explanation of (A)

(A) is true but (R) is false

(A) is false but (R) is true

answer is D.

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Detailed Solution

Former colonies created the organisation known as G-77. It was not designed under the Bretton Woods system. The majority of emerging nations did not profit from the Western economies' explosive expansion in the 1950s and 1960s. As a result, they formed the Group of 77 (also known as the G-77) to seek a new global economic system (NIEO). By "NIEO," they meant a system that would give them actual sovereignty over their natural resources, more support for international development, more equitable prices for raw materials, and better access for their produced goods to markets in developed economies.
Thus, the Assertion is false in this case, but the Reason is true.

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