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New International Economic Order
The New International Economic Order (NIEO) is a set of proposals advocated by developing countries to end economic colonialism and dependency through a new interdependent economy. The main NIEO document recognized that the current international economic order "was established at a time when most of the developing countries did not even exist as independent states and which perpetuates inequality". In the spirit of "trade not aid", the NIEO called for changes in trade, industrialization, agricultural production, finance, and transfer of technology. The United Nations General Assembly adopted the "Declaration on the Establishment of a New International Economic Order" and its accompanying program of action on 1 May 1974. History Antecedent international economic order The United Nations' Declaration on the Establishment of a New International Economic Order (1974) argued that the international economic order then prevailing was unjust and inequitable, no longer serving the needs of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developing Country
A developing country is a sovereign state with a less-developed industrial base and a lower Human Development Index (HDI) relative to developed countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The terms low-and middle-income country (LMIC) and newly emerging economy (NEE) are often used interchangeably but they refer only to the economy of the countries. The World Bank classifies the world's economies into four groups, based on gross national income per capita: high-, upper-middle-, lower-middle-, and low-income countries. Least developed countries, landlocked developing countries, and small island developing states are all sub-groupings of developing countries. Countries on the other end of the spectrum are usually referred to as high-income countries or developed countries. There are controversies over the terms' use, as some feel that it perpetuates an outdated concept of "us" and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Harry Gordon Johnson
Harry Gordon Johnson, (26 May 1923 – 9 May 1977) was a Canadian economist who studied topics such as international trade and international finance. Nobel laureate James Tobin said about him: "For the economics profession throughout the world, the third quarter of this century was an Age of Johnson. ... It was his impact on his own profession ... that justifies calling the era his Age." Appointed professor of economics at Manchester University in 1956, he left upon being appointed Professor of Economics at the University of Chicago from 1959 (and from 1969, the Charles F. Grey Distinguished Service Professor) until his death in 1977. He was also Professor of Economics at the London School of Economics from 1966 until 1974. And he briefly was professor at the Graduate Institute of International Studies in Geneva until his death. He was twice Editor of the ''Journal of Political Economy''. He had a stroke at age 49 and died prematurely from a second stroke at age 53. In 1976 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Uruguay Round
The Uruguay Round was the 8th round of multilateral trade negotiations (MTN) conducted within the framework of the General Agreement on Tariffs and Trade (GATT), spanning from 1986 to 1993 and embracing 123 countries as "contracting parties". The Round led to the creation of the World Trade Organization, with GATT remaining as an integral part of the WTO agreements. The broad mandate of the Round had been to extend GATT trade rules to areas previously exempted as too difficult to liberalize (agriculture, textiles) and increasingly important new areas previously not included (trade in Service (economics), services, intellectual property, investment policy trade distortions). The Round came into effect in 1995 with deadlines ending in 2000 (2004 in the case of developing country contracting parties) under the administrative direction of the newly created World Trade Organization (WTO). The Doha Development Round was the next trade round, beginning in 2001 and still unresolved after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tokyo Round
The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between the 102 states which were parties to the General Agreement on Tariffs and Trade (GATT). The negotiations resulted in reduced tariffs and established new regulations aimed at controlling the proliferation of non-tariff barriers (NTBs) and voluntary export restrictions. The aim was further to harmonise government policies. Concessions were made on $19 billion worth of trade, and were scheduled to enter effect over eight years from 1980. The Tokyo Round concluded in April 1979. The Tokyo Round was held to be "the most comprehensive of all the seven rounds of negotiations held within the GATT since its founding in 1948". One novelty was that it covered bovine meat and dairy products. The agricultural sector Agriculture encompasses crop and livestock production, aquaculture, and forestry for food and non-food products. Agriculture was a key factor in the rise of sedentary human civilization, wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Common Fund For Commodities
The Common Fund for Commodities (CFC) is an intergovernmental financial institution established within the framework of the United Nations. It is a vestige of the proposed New International Economic Order. The CFC finances commodity development projects in developing states. The CFC was established in 1989. It was set up by a 1980 multilateral treaty known as the Agreement establishing the Common Fund for Commodities. As of June 2017, there are 110 parties to the Agreement and thus to the CFC. This total includes 101 UN member states plus 9 intergovernmental organizations: the Andean Community, the African Union, the Caribbean Community, the Common Market for Eastern and Southern Africa, the East African Community, the European Union, the Economic Community of West African States, the Southern African Development Community and the West African Economic and Monetary Union. Members that have joined but then withdrawn from the CFC include Australia, Austria, Belgium, Canada, Ja ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-binding Resolution
A non-binding resolution is a motion adopted by a deliberative body that does not enact a law or a substantive rule, and is simply used to make known what the opinions of that body are in relation to a certain fact or event. This type of resolution is often used to express the body's approval or disapproval of something that they cannot otherwise vote on, due to the matter being handled by another jurisdiction, or being protected by a constitution. An example would be a resolution of support for a nation's troops in battle, which carries no legal weight, but is adopted for moral support. Use Non-binding resolutions are usually specific simple or concurrent resolutions that are not passed on to the executive branch to be signed into the law. These resolutions differ from pure concurrent resolutions (that are used for various procedural requests such as adjourning sessions) in that they are designed to express formally, document opinions and not initiate a process. These resolut ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free Trade Agreements
A free trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occur when two countries agree to loosen trade restrictions between the two of them, generally to expand business opportunities. Multilateral trade agreements are agreements among three or more countries, and are the most difficult to negotiate and agree. FTAs, a form of trade pacts, determine the tariffs and duties that countries impose on imports and exports with the goal of reducing or eliminating trade barriers, thus encouraging international trade. Such agreements usually "center on a chapter providing for preferential tariff treatment", but they also often "include clauses on trade facilitation and rule-making in areas such as investment, intellectual property, government procurement, technical standards and sanitary and phytosanitary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization headquartered in Geneva, Switzerland that regulates and facilitates international trade. Governments use the organization to establish, revise, and enforce the rules that govern international trade in cooperation with the United Nations System. The WTO is the world's largest international economic organization, with 166 members representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, trade in services, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, Import quota, quotas, and other Trade barrier, restrictions; these agreements are signed by representatives of member governments. (The document's printed folio numbers do not match the PDF page numbers.) and ratified by their legislatures. It also administers independent dispute resolution for enforcing ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoliberal
Neoliberalism is a political and economic ideology that advocates for free-market capitalism, which became dominant in policy-making from the late 20th century onward. The term has multiple, competing definitions, and is most often used pejoratively. In scholarly use, the term is often left undefined or used to describe a multitude of phenomena. However, it is primarily employed to delineate the societal transformation resulting from market-based reforms. Neoliberalism originated among European Liberalism, liberal scholars during the 1930s. It emerged as a response to the perceived decline in popularity of classical liberalism, which was seen as giving way to a social liberal desire to control markets. This shift in thinking was shaped by the Great Depression and manifested in policies designed to counter the volatility of free markets. One motivation for the development of policies designed to mitigate the volatility of capitalist free markets was a desire to avoid repeatin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Globalization
Globalization is the process of increasing interdependence and integration among the economies, markets, societies, and cultures of different countries worldwide. This is made possible by the reduction of barriers to international trade, the liberalization of capital movements, the development of transportation, and the advancement of information and communication technologies. The term ''globalization'' first appeared in the early 20th century (supplanting an earlier French term ''mondialisation''). It developed its current meaning sometime in the second half of the 20th century, and came into popular use in the 1990s to describe the unprecedented international connectivity of the Post–Cold War era, post–Cold War world. The origins of globalization can be traced back to the 18th and 19th centuries, driven by advances in transportation and communication technologies. These developments increased global interactions, fostering the growth of international trade and the exc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington Consensus
The Washington Consensus is a set of ten economic policy prescriptions considered in the 1980s and 1990s to constitute the "standard" reform package promoted for Economic crisis, crisis-wracked developing country, developing countries by the Washington, D.C.-based institutions the International Monetary Fund (IMF), World Bank and United States Department of the Treasury.Williamson, John"What Washington Means by Policy Reform", in: Williamson, John (ed.): ''Latin American Readjustment: How Much has Happened'', Washington: Peterson Institute for International Economics 1989. The term was first used in 1989 by English economist John Williamson (economist), John Williamson. The prescriptions encompassed Free market, free-market promoting policies such as trade economic liberalization, liberalization, privatization and finance liberalization. They also entailed fiscal and monetary policies intended to minimize fiscal deficits and minimize inflation. Subsequent to Williamson's use of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Right To Development
The right to development is a human right that recognizes every human right for constant improvement of well-being. It was recognized by the United Nation as an international human right in 1986. History The right to development was debated for decades prior to its adoption as an international human right by the UN in 1986. Conceptual differences were impacted by Cold War political positions. The right to development is now included in the mandate of several UN institutions and offices. The UN's declaration was presaged by the 1974 Declaration on the Establishment of a New International Economic Order and in 1977 by a resolution of the United Nations Commission on Human Rights. The right to development was first recognized in 1981 in Article 22 of the African Charter on Human and Peoples' Rights as a definitive individual and collective right. Article 22(122) provides that: "All peoples shall have the right to their economic, social and cultural development with due regard t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
