PREMISE ASHFAQUE

HISTORICAL FACTS DANYAL

INTERNATIONAL INSTITUTIONS NAQASH

NEW INTERNATIONAL ECONOMIC

ORDER SHEHRYAR

CURRENT SCENARIOS SULTAN

CONCLUSION 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 eraIt is the most preliminary era in which

the trade between the people started.

Classical eraFollowings 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

Middle ages•Agricultural era

•Industrial Revolution

Modern period (period

of technology)This is the period of modern technology in

which robotic machines are there in each

department of life. From manufacturing to

entertainment

Concept of Global Economy

The concept of world economy

was given by Adam smith in

1776

ECONOMIES

OF THE WORLD

• In the times of agriculture

based economies the

eastern countries of the world was

dominant and Sub-Continent was

known as Golden Sparrow

• While 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 countries

Economies of the World in

different periods

An other Historic FactIn 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 t i l t o f who le

economic g rowth

was towards wes t

World Economic Order

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

after WW II

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.

Bretton Woods Conference

PurposeThe purpose

was to create a

system which

avoided

•World war III

•Great

Depression II

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.

Motto"The economic

health of every

country is a

proper matter of

concern to all its

neighbors, near

and far."

Role of

International

Institutions

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.

International Monitory Fund ( IMF)

World Bank is an International Financial

Institution that provide loans to developing

countries for capital programs

The World Bank’s official goal is the

reduction of poverty

July 1944

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 OrderThe 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

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

Cont…

Role of Big Economies

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

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

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 Net

herlands 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

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

Intrigue in other countries American intervention in other countries

Other between the line understandingsDeveloped countries have some contracts behind the scene

to have dominance on the developing countries

Example of brutality of Big Crocodiles

CURRENT

SCENARIOS

Current scenario of wealth around the

world & economic Disorder

Current scenario of wealth around the

world & economic Disorder

Distribution of ResourcesAmerica

•have high technology

•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

Bases on which countries

are sustaining.?

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

• Zero sum game-the Big Brothers should not seek for the benefits in

international trade

In short…

R i c h s h o u l d

s t o p g e t t i n g

o n e x p e n s e

• Promote planed international

markets:

There should be some authority who is

to regulate the international market

Free market is not a favorable

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