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New International Economic Order
The New International Economic Order (NIEO) represents a neoliberal worldview of the global political economy, one that was embodied in a set of proposals put forward during the 1970s by some developing countries through the United Nations Conference on Trade and Development to promote their interests by improving their terms of trade, increasing development assistance, developed-country tariff reductions, and other economic or political agreements designed to. More specifically, it represents a reconsideration of existing structures and processes within the world political economy of that time, and the formal integration of classical liberalism in the global economy. For example, major revisions of the international economic system would mostly cater the development of Third World countries, replacing the Bretton Woods system, which had benefited the leading states that had created it – especially the United States. This order was first demanded by the Non-Aligned Movement, ultimately failing and contributing to the formulation of the "Right to Development in 1986".

History
The New International Economic Order would first emerge through the Algiers Conference of the Non-Aligned countries in 1973. More specifically, this mission to achieve a more equitable international system was motivated by an increasing inequality in the share of global income between developed and underdeveloped countries, which more than doubled between 1938 and 1966. Key themes of the New International Economic Order included both sovereign equality and the right of self-determination, especially when it comes to sovereignty over natural resources. This particular agenda of negotiating a new commodity order within the United Nations Conference on Trade and Development (UNCTAD) would become a central issue of the North-South Agenda from 1974 to 1977.

This advocacy among nations of the Non-Aligned Movement can also be interpreted as an extension of the decolonization movement that was present in many developing countries during that time. In this perspective, economic equity was perceived as a metric to measure the success of Independence movements and completing the decolonization process.

This increasing sentiment among nation states would not be formalized until the Declaration for the Establishment of a New International Economic Order, adopted by the United Nations General Assembly in 1974 (1). This followed an agenda for discussions between industrial and developing countries, focusing on restructuring of the world's economy to permit greater participation by and benefits to developing countries (also known as the "North-South Dialogue"). Along with the declaration, a Programme of Action and a Charter of Economic Rights and Duties of States (12 December 1974, A/RES/29/3281). were also adopted in the 1970s and 1980s, the developing countries pushed for NIEO and an accompanying set of documents to be adopted by the UN General Assembly. Subsequently, however, these norms became only of rhetorical and political value, except for some partly viable mechanisms, such as the non-legal, non-binding Restrictive Business Practice Code adopted in 1980 and the Common Fund for Commodities which came in force in 1989.

Tenets
The main tenets of NIEO were:

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 * 1) Developing countries must be entitled to regulate and control the activities of multinational corporations operating within their territory.
 * 2) They must be free to nationalize or expropriate foreign property on conditions favourable to them.
 * 3) They must be free to set up associations of primary commodities producers similar to the OPEC; all other States must recognize this right and refrain from taking economic, military, or political measures calculated to restrict it.
 * 4) International trade should be based on the need to ensure stable, equitable, and remunerative prices for raw materials, generalized non-reciprocal and non-discriminatory tariff preferences, as well as transfer of technology to developing countries; and should provide economic and technical assistance without any strings attached.