New International Economic Order

The New International Economic Order was a program advanced by developing countries in the 1970s to reshape global trade, finance, technology transfer, and control of natural resources.

United Nations General Assembly Resolution 3201: The 1974 declaration that called for a New International Economic Order and set out its principles. This resolution formally proclaimed the program at a special session of the General Assembly.
Dependency theory: A body of social and economic thought explaining underdevelopment through unequal relations between wealthy and poorer countries. It supplied a framework for explaining how global economic structures could reproduce dependence.
Common Fund for Commodities: An international fund established to support commodity agreements and improve conditions in commodity markets. It embodied the proposal to stabilize commodity earnings through collective international mechanisms.
Charter of Economic Rights and Duties of States: A 1974 United Nations declaration setting out states' rights and responsibilities in international economic relations. The charter translated parts of the program into a declaration on state authority and economic relations.
Resource nationalism: Policies asserting national control over natural resources and the revenues they generate. It remains a practical expression of the program's demand for sovereign resource control.
Group of 77: A coalition of developing countries formed in 1964 to coordinate positions in the United Nations. Its member states supplied the diplomatic coalition that pressed for the order.
Terms of trade: The ratio between the prices a country receives for exports and pays for imports. Improving export prices relative to import costs was central to demands for fairer trade.
Commodity agreements: International arrangements coordinating production, trade, or prices for particular raw materials. Such agreements could reduce price volatility and strengthen producer countries' negotiating position.
Lomé Convention: A series of agreements beginning in 1975 between the European Economic Community and African, Caribbean, and Pacific states. Its trade preferences and commodity-stabilization measures reflected some demands for differentiated treatment.
New International Economic Order (debate): Historical and scholarly debate over the aims, feasibility, and legacy of the 1970s economic program. Debate centers on whether the project offered workable reforms or an unattainable redistribution of power.

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