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Q.

G-77 proposed the ____.


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Detailed Solution

The New International Economic Order (NIEO) was a set of proposals which was put forward during the 1970s by the G-77 group. It was proposed to revise the international economic system in favour of developing countries. G-77 wanted real control over their natural resources and wanted a system under which they could get a fairer price for raw materials and better access to their manufactured goods in the developed countries. It was decided that the developing countries must be entitled to regulate and control the activities of the MNCs.
 
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