W

R
O

ECONOMIC ORDER
LD

R ECTIFIERS
SULTAN
SHEHARYAR

012
025

DANYAL

027

NAQASH

053

ASHFAQUE

056

SEQUENCE
PREMISE
HISTORICAL FACTS

ASHFAQUE
DANYAL

INTERNATIONAL INSTITUTIONS

NAQASH

NEW INTERNATIONAL ECONOMIC

ORDER
SHEHRYAR
CURRENT SCENARIOS
CONCLUSION

SULTAN
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 era
It is the most preliminary era in which
the trade between the people started.

Classical era
Followings 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

Concept of Global
Middle ages
Economy
Agricultural era
The concept of world
Industrial Revolution
economy was given
Modern period (periodby Adam smith in
1776
of technology)
This is the period of modern technology in
which robotic machines are there in each
department of life. From manufacturing to
entertainment

ECONOMIES
OF THE WORLD

Economies of the World in different

periods
In

the

based

agriculture
economies
the

times

of

eastern countries of the world was

dominant and Sub-Continent was
known as Golden Sparrow
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

While

An other Historic Fact

In 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 tilt of whole

economic growth
was towards west

Worlds
Economy
Flourished
In 1960

World Economic Order

after WW II

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

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.

Motto
"The economic
health of every
country is a
proper matter of
concern to all its
neighbors, near
and far."

Bretton Woods Conference

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.

Purpose
The
purpose
was to create a
system
which
avoided

World war III

Great
Depression II

Role of
International
Institutions

International Monitory Fund ( IMF)

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.

July 1944

World Bank is an International Financial

Institution that provide loans to developing
countries for capital programs
The World Banks official goal is the
reduction of poverty

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 Order

The 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

Cont
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

Role of Big 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

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

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 Netherlands 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

Example of brutality of Big Crocodiles

Formation of WTO(1995)
Different strategies for developing and developed countries

Intrigue in other countries

American intervention in other countries

Other between the line understandings

Developed countries have some contracts behind the scene to
have dominance on the developing countries

CURRENT
SCENARIOS

Current scenario of wealth around the

world & economic Disorder

Current scenario of wealth around the

world & economic Disorder

Distribution of Resources
America
Bases on which countries
have high technology
are sustaining.?
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

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

Promote planed international
markets:
There should be some authority who is
to regulate the international market
Free market is not a favorable

Zero sum gamethe Big Brothers should not seek for the benefits in
international trade

In short
Rich should stop
getting on expense of

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