Part of the Speech Showing Marginalization of Undeveloped Countries by the Developed Countries - Citing an example in 1985/86 where we Doubled (Tanzania) the Production of Cotton and Alas !!! the Price of Cotton fell to Half. (The System must Change; A system organised for robbery - The Rich Robbing the Poor);
In 1970s some Countries tried establishing the New International Economic Order (Calling for Global Negotiations) - In one of the preliminary meetings in 1981, as you might have guessed Thatcher and Reagan would have non of it (You can't kill the Goose which lays the Golden Eggs)
The New International Economic Order (NIEO) is a set of proposals advocated by developing countries to end economic colonialism and dependency through a new interdependent economy.
In the spirit of "trade not aid," the NIEO called for changes in trade, industrialization, agricultural production, finance, and transfer of technology.
The idea of a new international economic order emerged from the experiences of decolonization after the Second World War. Newly decolonized countries gained political sovereignty but "felt that their de jure political colonization ended only to be replaced by a de facto economic colonization.
In 1974, the United Nations General Assembly adopted the Declaration for the Establishment of a New International Economic Order along with its accompanying program of action and formalized this sentiment among nation states. A few months later the UN General Assembly adopted the Charter of Economic Rights and Duties of States. Since then, there have been many meetings to realize the NIEO. In 2018, the United Nations General Assembly adopted the resolution "Towards a New International Economic Order," which reaffirmed "the need to continue working towards a new international economic order based on the principles of equity, sovereign equality, interdependence, common interest, cooperation and solidarity among all States."
The main principles of the NIEO were:
The sovereign equality of all States, with non-interference in their internal affairs, their effective participation in solving world problems and the right to adopt their own economic and social systems;
Full sovereignty of each State over its natural resources and other economic activities necessary for development, as well as regulation of transnational corporations;
Just and equitable relationship between the price of raw materials and other goods exported by developing countries, and the prices of raw materials and other goods exported by the developed countries;
Strengthening of bilateral and multilateral international assistance to promote industrialization in the developing countries through, in particular, the provisioning of sufficient financial resources and opportunities for transfer of appropriate techniques and technologies.
The main reforms required by the NIEO:
An overhaul of the rules of international trade, especially those concerning raw materials, food, the system of preferences and reciprocity, commodity agreements, transportation, and insurance.
A reform of the international monetary system and other financing mechanisms to bring them into line with development needs.
Both financial and technology transfer incentives and assistance for industrialization projects in developing countries. This industrialization is understood as essential for the diversification of economies, which during colonization focused on a very restricted range of raw materials.
Promotion of cooperation among the countries of the South, with a view to greater individual and collective autonomy, broader participation and enhanced involvement in international trade. This cooperation is called Economic Cooperation among Development Countries, which replaces colonial dependence with new interrelationships among developing countries based on trade, production, and markets and builds collective self-reliance.
The United States government rejected the NIEO almost immediately. Neoconservatives and libertarians criticized the NIEO and became influential in US foreign policy circles. For example, economist Harry Johnson criticized the NIEO for using central planning and monopolistic power to extort transfers of income and wealth from the developed countries
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