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World 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 th''Declaration for the Establishment of a New International Economic Order''and its accompanying program of action on 1 May 1974. History The idea of a new international economic order emerged from the experiences of decolonization after the Second World War. Newly decolonized countries gained political sovereignty but "felt that their ''de jure'' political colonization ended only to be replac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developing Country
A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. The term low and middle-income country (LMIC) is often used interchangeably but refers 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 There are controversies over this term's use, which some feel it perpetuates an outdated concept of "us" and "them". In 2015, the World Bank declared that ... [...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 the ... [...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 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 missing its official ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tokyo Round
The Tokyo Round was a multi-year multilateral trade negotiation (MTN) between 102 nation-states that were parties to the 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 Dairy products or milk products, also known as lacticinia, are food products made from (or containing) milk. The most common dairy animals are cow, water buffalo, nanny goat, and ewe. Dairy products include common grocery store food items in .... The agricul ... [...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, Japan, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Non-binding
A non-binding resolution is a written motion adopted by a deliberative body that can or cannot progress into a law. The substance of the resolution can be anything that can normally be proposed as a motion. 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 resolutions offer a means f ... [...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 i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World Trade Organization
The World Trade Organization (WTO) is an intergovernmental organization that regulates and facilitates international trade. With effective cooperation in the United Nations System, governments use the organization to establish, revise, and enforce the rules that govern international trade. It officially commenced operations on 1 January 1995, pursuant to the 1994 Marrakesh Agreement, thus replacing the General Agreement on Tariffs and Trade (GATT) that had been established in 1948. The WTO is the world's largest international economic organization, with 164 member states representing over 98% of global trade and global GDP. The WTO facilitates trade in goods, services and intellectual property among participating countries by providing a framework for negotiating trade agreements, which usually aim to reduce or eliminate tariffs, quotas, and other restrictions; these agreements are signed by representatives of member governmentsUnderstanding the WTO' Handbook at WTO officia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Neoliberal
Neoliberalism (also neo-liberalism) is a term used to signify the late 20th century political reappearance of 19th-century ideas associated with free-market capitalism after it fell into decline following the Second World War. A prominent factor in the rise of conservative and libertarian organizations, political parties, and think tanks, and predominantly advocated by them, it is generally associated with policies of economic liberalization, including privatization, deregulation, globalization, free trade, monetarism, austerity, and reductions in government spending in order to increase the role of the private sector in the economy and society. The defining features of neoliberalism in both thought and practice have been the subject of substantial scholarly debate. As an economic philosophy, neoliberalism emerged among European liberal scholars in the 1930s as they attempted to revive and renew central ideas from classical liberalism as they saw these ideas diminish in popul ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20th century (supplanting an earlier French term ''mondialization''), developed its current meaning some time 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 world. Its origins can be traced back to 18th and 19th centuries due to advances in transportation and communications technology. This increase in global interactions has caused a growth in international trade and the exchange of ideas, beliefs, and culture. Globalization is primarily an economic process of interaction and integration that is associated with social and cultural aspects. However, disputes and international diplomacy are also large parts of the history of globalizat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Washington Consensus
The Washington Consensus is a set of ten economic policy prescriptions considered to constitute the "standard" reform package promoted for crisis-wracked developing countries by Washington, D.C.-based institutions such as 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. The prescriptions encompassed free-market promoting policies in such areas as macroeconomic stabilization, economic opening with respect to both trade and investment, and the expansion of market forces within the domestic economy. Subsequent to Williamson's use of the terminology, and despite his emphatic opposition, the phrase Washington Consensus has come to be used fairly widely in a second, b ... [...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. History The right 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 to their freedom and identity and in the equal enjoyment of the common heritage of mankind." The right to development was subsequently proclaimed by the United Nations in 1986 in the "Declaration on the Right to Development," which was adopted by the United Nations General Assembly resolution 41/128. The vote took place on the 4th of December 1986. A total of 146 States voted for the resolution with only one State against it and 8 abstentions (against: the United States of America (which later approved similar declarations); abstaining: Denmark, Finland, the Federal Republic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
