What is the new international economic order?

What is the new international economic order?

In fact, the target at which the less-developed countries are aiming is what they describe as "a new international economic order". As early as 1974, the UN General Assembly had drafted an action programme for the establishment of such a "new order" (which would give more consideration to the interests of the less-developed countries). The new international economic order consists mainly in a demand for more cash and trade concessions from the developed countries. The international monetary system would have to be adapted in such a way that the less-developed countries would have more Special Drawing Rights at their disposal. Aid to less-developed countries，however, has nothing to do with the international monetary system. Furthermore, the less-developed countries have insisted on a maximum of assistance with the industrialization process, e.g. by supplying capital, transmitting technology and granting preferential customs tariffs.