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PREMISE ASHFAQUE
HISTORICAL FACTS DANYAL
INTERNATIONAL INSTITUTIONS NAQASH
NEW INTERNATIONAL ECONOMIC
ORDER SHEHRYAR
CURRENT SCENARIOS SULTAN
CONCLUSION SULTAN
WORLD ECONOMY
It generally refers to the
economy, which is based on
economies of all of the
world's countries' national
economies.
HISTORY OF WORLD ECONOMY
Stone eraIt is the most preliminary era in which
the trade between the people started.
Classical eraFollowings were the important steps
forwards
• Expedition and long distance commerce
• External trade with the Roman Empire
• The introduction of coinage
• Developments in economic awareness
and thought
History of world economy
Middle ages•Agricultural era
•Industrial Revolution
Modern period (period
of technology)This is the period of modern technology in
which robotic machines are there in each
department of life. From manufacturing to
entertainment
Concept of Global Economy
The concept of world economy
was given by Adam smith in
1776
ECONOMIES
OF THE WORLD
• In the times of agriculture
based economies the
eastern countries of the world was
dominant and Sub-Continent was
known as Golden Sparrow
• While after the industrial
revolution the western economies
got strength and with the revolution
is the field of IT, most of the countries
were standing no where in the
economic run between the countries
Economies of the World in
different periods
An other Historic FactIn period of World War I & II. Though the
resources of the world wasted a lot . But at the
same time production got highest point as well.
Big developments in the industrial sector came
in the same period.
While at the same time most of the
eastern countries were fighting with evils
of colonial system deeply rooted in their
area…. And yet doing the same.
So the t i l t o f who le
economic g rowth
was towards wes t
World Economic Order
WEO explains the distribution of wealth among
the different regions of the world.
Polanyi had predicted in 1944, that
• The post war, world market system would no
longer be self-regulating.
• Not a new Gold Standard but adjustable &
pegged will be required
• A ‘more conscious effort in international
management’ of the world economy will be
necessary
after WW II
Reasons of
Economic Disorder
The tilt of wealth is towards the countries
who have better technology to utilize the
resources in optimal way.
The developed countries get the resources
from the under developed countries in raw
form. And in most of the cases they sell the
same material to the under-developed
countries after furnishing and charge high cost.
Bretton Woods Conference
PurposeThe purpose
was to create a
system which
avoided
•World war III
•Great
Depression II
Conference was held on 8th july
1944 which was attended by 730
delegates from 44 Allied nations
at the Mount Washington Hotel
in Bretton Woods, N.H.
Motto"The economic
health of every
country is a
proper matter of
concern to all its
neighbors, near
and far."
Role of
International
Institutions
works to foster global growth and
economic stability.
provides policy advice and financing
to members in economic difficulties
works with developing nations to help
them achieve macroeconomic
stability and reduce poverty.
International Monitory Fund ( IMF)
World Bank is an International Financial
Institution that provide loans to developing
countries for capital programs
The World Bank’s official goal is the
reduction of poverty
July 1944
The International Organization that
Governs the rule of Trade between
Nations
Administer WTO trade agreements
Forum for trade negotiations
Handle trade disputes
Monitor national trade policies
Technical assistance and training
Cooperate with international organizations
Criticism
Criticism on these international
organization
• Tough conditions for developing countries
• are fundamentally undemocratic
• Dominated by industrialized countries
• trample labor and human rights
• are increasing inequality
• hurt poor countries in favor of rich nations
New International
Economic Order
New World Economic OrderThe New International Economic Order (NIEO)
was 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
Increase development assistance
Tariff reductions for developing countries
Tenets of New World Economic Order
Active assistance to developing countries
by the whole international community, free
of any political or military conditions
The need for all States to put an end to
the waste of natural resources, including
food products
Giving the developing countries access to
the achievement of modern science and
technology
The right of every country to adopt the economic
and social system that it supposes the most
appropriate for its own development
Secure favorable conditions for the transfer of
financial resources to developing countries
Developing countries should be freed to nationalize
or expropriate foreign property on conditions
favorable to them
Cont…
Role of Big Economies
BUT
All the big economies of the
world like America and the
great Britten have the Sole
thought not to let the Eastern
Countries to glow and to have
the complete charge of Worlds
economy.
Greed has no limit
Even these Economies want to grab the
resources of the other under developed
economies
At the forum of general assembly of
UNO all the countries along with
big Dolphins show a great intent to
bring all the regions of world on the
same economic position
Examples of brutality of big
Dolphins
European Economic Community (1957)
Its aim was to bring about economic integration
among its six
members (Belgium, France, Italy, Luxembourg, the Net
herlands and West Germany. Renamed as European
Community)
EMS-(1979-1993)Actually it was an attempt to prevent the fluctuations of
exchange rates among European countries to
minimize the risk of loss
Formation of WTO(1995)Different strategies for developing and developed countries
Intrigue in other countries American intervention in other countries
Other between the line understandingsDeveloped countries have some contracts behind the scene
to have dominance on the developing countries
Example of brutality of Big Crocodiles
CURRENT
SCENARIOS
Current scenario of wealth around the
world & economic Disorder
Current scenario of wealth around the
world & economic Disorder
Distribution of ResourcesAmerica
•have high technology
•Got emulation markets
Europe
• have established foreign markets from the
time of colonialism
•Good technology to utilize the raw material
Middle east
•Have oil resources
China and India
•Have man power
Other countries of world
•Have resources but in raw form
Bases on which countries
are sustaining.?
Is New World Economic order a
dream come true……??
The core meaning of NWEO is to bring the Less
Developed and Under Developed countries on a
situation where they can remain no more under the
slavery of Developed countries…….. And can utilize
their resources to bring their economy in the run of
developed countries.
Under the present
conditions in looks
impossible
Some suggestion to the World BIG BROTHERS
• by favoring true economic
decolonization, including the right to
diversified, complete
industrialization, accompanied by effective
transfer of the most advanced Western
technologies
• by compensating the developing nations for
the abusive exploitation of their natural
resources during the colonial era;
• by recognizing their total sovereignty over
these resources;
Some suggestion to the World BIG BROTHERS
• by expanding the participation of
the Third World in the daily
operations of the international
monetary system;
• by encouraging the inevitable rise
in the prices of raw materials);
• by cancelling the standing debt of
the Third World
Supposed Structural changes
• Zero sum game-the Big Brothers should not seek for the benefits in
international trade
In short…
R i c h s h o u l d
s t o p g e t t i n g
o n e x p e n s e
• Promote planed international
markets:
There should be some authority who is
to regulate the international market
Free market is not a favorable
Technology transfer
• fulfilling the increasing training needs:;
• research for technology and production systems adapted to
the LDC
• the right of access to subsequent advances in the
technology acquired;
• the development of joint ventures;
• changes in existing regulations (patents and licenses) and
the establishment of an international technology transfer
code
• the creation of an international technology transfer fund;
• stringent regulation of "reverse transfer" (exodus of
intellectuals to industrialized countries).
Other Suggestions
• Moderate exchange rate system
• Management of natural resources
• Concept of world Oil Management
Corporation (WOMC).
• Role of UNO
• Presentation of LDCs on the
international platforms
• Pools between LDCs in the
international market
• Role of CHINA