Often their terms are not reasonable from the point of view of the developing countries. Discriminatory limits on exports and imports, even against the GATT rules, are frequently made and pressed into use by the developed countries. They are not prepared to transfer it to the developing countries without getting favourable commitments and several desired trade and economic agreements. The existing rules governing international economic — and trade relations as well as the international institutions, favour the interests and needs of the developed countries. Transfer of Advanced Technology to the Third World: By several protectionist trade and economic policies they are in a position to impose discriminatory limits on exports to other countries and to make the world trade highly competitive to the direct and big disadvantage of the developing countries.
Several multinational corporations have been playing a big role in international economy, trade, technology and industrial production. The need is to end protectionism in trade and economy, and this is a vital theme of NIEO. They have been controlling most of the international patents in respect of advanced technology. The latter through international patents and protective policies and measures have a virtual monopoly over advanced technology and dual use technology. The existing system of protectionist trade and policies stands designed by the developed countries for safeguarding their interests in international economy and trade. Cancellation of outstanding debts of the Third World countries and the grant of at least 0. Realizing the non-viable nature of the existing international economic order, the Third World advocates a new economic order based on equality, interdependence, mutual benefit and support for the rights of all the nations which is essential for securing real progress and sustainable development. For securing advanced technology, the developing countries find themselves dependent upon the developed countries. NIEO advocates the need for restructuring international economic relations on a just and reasonable basis. Often their terms are not reasonable from the point of view of the developing countries. A greater and definite share for the developing countries in International Exports: Protectionist trade and policies of the developed countries have been a source of a big strain and loss for the developing countries. Total Restructuring of International Economic Order: The developing countries find themselves compelled to import the required technology from the MNCs which have come to be the most important channels for its transfer of this exercise involves high costs and heavy burdens for the developing countries. Its contribution, along with other factors of production, is always substantial for all round development. The Third World countries now demand a definite and fixed share in all international exports and tariff preferences in their favour as part of a new economic order. Their import bills have boomed while their exports have tended to be stagnant. These have always acted as instruments of neo-colonialism of the rich over the poor countries. Globalisation has been a source of pressure on the economies and actions of the developing countries. Another important theme of the NIEO is the securing of improved access to export markets in rich countries. First relates to the restructuring of the existing rules and regulations governing the international economic relations, and second relates to the formation of new institutions and systems of cooperation among nations. Control over the harmful features of Multinational Corporations: The existing rules governing international economic — and trade relations as well as the international institutions, favour the interests and needs of the developed countries. By several protectionist trade and economic policies they are in a position to impose discriminatory limits on exports to other countries and to make the world trade highly competitive to the direct and big disadvantage of the developing countries. The existing economic regime is more conducive to the interests of the developed countries.
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