A group of states which are not formally aligned with or against any major power bloc forms the Non-Aligned Movement (NAM).
NAM was founded by Indonesia’s Sukarno and Ghana’s Kwame Nkrumah. The organization was founded in Belgrade in 1961.
After the second World War, the world was bi-polar with two super powers (the USA and the USSR) vying to hold the maximum authority. But several countries like India, Indonesia etc at that point of time had just gained their independence from colonial rule and refused to align with either of the super powers leading to NAM. Non-alignment does not promote isolation and neutrality. The countries involved in the movement acted as a buffer between the super powers to promote peace and stability in the world. Their unity was their strength which allowed them to ignore the superpowers who wanted to create alliances based on political, economic dominance. The countries involved in NAM were also not neutral as they worked to break up any wars that may have started to ensure peace.
NIEO or the New International Economic Order was an idea that originated with the realisation that economic development was vital for the independence of the new countries which more often than not was marked as Least Developed Countries or LDCs.
A report in 1972 entitled Towards a New Trade Policy for Development brought out by the United Nations Conference on Trade and Development (UNCTAD) outlined a reform of the global trading system so as to:
(i) give the LDCs control over their natural resources exploited by the developed Western countries,
(ii) obtain access to Western markets so that the LDCs could sell their products and, therefore, make trade more beneficial for the poorer countries,
(iii) reduce the cost of technology from the Western countries, and
(iv) provide the LDCs with a greater role in international economic institutions.
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