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International economic order



Theoldorder

Theso-calledoldinternationaleconomicorderreferstotheInternationalMonetaryFundAgreement,theInternationalBankforReconstructionandDevelopmentAgreementsignedattheBrettonWoodsConferencein1944,andThethreemajoragreementsthatcameoutofthe"GeneralAgreementonTariffsandTrade"formedthebasiclegalframeworkandmainlyreflectedtheinterestsofdevelopedcountriesledbytheUnitedStatesandBritainandrequiredinternationalinstitutionalarrangementsinthefieldsofinternationaltradeandinternationalfinance.

NewInternationalOrder

Theso-callednewinternationaleconomicorderreferstothecurrentworldeconomicenvironmentinordertopromotetheeconomicandsocialprogressofdevelopingcountriesandreflectthecurrentinternationaleconomicorder.Theadjustmentandchangeoftheinternationaleconomicstructureformsaninternationaleconomicmechanismthatcantrulyembodyfairnessandmutualbenefit,therighttodevelopmentofdevelopingcountries,andfocusonsustainabledevelopment.Thepropositionofnewinternationaleconomicrelationsputforwardbydevelopingcountriestochangetheoldinternationaleconomicorder.InMay1974,thesixthspecialsessionoftheUnitedNationsGeneralAssemblyadoptedthe"DeclarationontheEstablishmentofaNewInternationalEconomicOrder"andthe"ProgrammeofAction";inDecemberofthesameyear,the29thUnitedNationsGeneralAssemblypassedthe"CharterofEconomicRightsandDutiesofStates."Themaincontentoftheneworderembodiedinthesedocumentsisthatcountrieshavefullsovereigntyovertheirnaturalresourcesandalleconomicactivities,andreformsarenotconducivetodevelopingcountries’internationalfinancialsystemsandtermsoftrade.

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