HistoryWhat is the full form of NIEO?

What is the full form of NIEO?


  1. A
    New Indian Economic Order.
  2. B
    Nascent International Economic Organisation.
  3. C
    New International Economic Order.
  4. D
    New International Economic Operation. 

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    Solution:

    NIEO is the abbreviation of "New International Economic Order." It was something that the developing nations wanted. The Third World countries' demand for NIEO indicated that they wished developed nations or former colonial powers to stop utilising their natural resources, i.e., those of their former colonies. Furthermore, for the developing nations to compete with the industrialised nations, they wanted the developed countries to establish an equitable global environment in which those nations would receive aid and fair pricing for raw commodities. Additionally, they requested the assistance of wealthy nations so that they could readily import products made in the third world into their markets.
     
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