New International Economic Order (NIEO)

Much has changed in the global economic picture since the concerted efforts were made towards establishing New International Economic Order (NIEO) during the 1970s yet its relevance is still discussed and questioned. NIEO was one of the major concerted efforts by the UN to establish a new world economic order to support the least developed and newly independent countries to have their say in the global economic picture. Though the global community is making efforts towards redefining the world economic order in the era of the Covid-19 pandemic amidst mounting inflation concerns and oil prices yet vaccine crisis and vaccine inequality are headlining these days. The issues show how the world is still struggling with age-old issues of the North-South divide and economic inequality. Vaccine nationalism and the I