This policy revives and updates the New International Economic Order (NIEO) framework for the 21st century, providing Southern countries with greater control over trade, finance, and development trajectories. Its design emphasises strengthening collective bargaining power through South–South alliances, establishing new development banks and payment systems, creating commodity buffer stocks, and coordinating industrial strategies.
The goal is to reduce structural dependency on Northern markets and institutions, rebalance global economic governance, and enable post-growth development strategies rooted in solidarity and sustainability.
Implementation requires renewed coordination through G77 and regional organisations, establishment of South-led financial instruments, and international recognition of the legitimacy of alternative economic models.
This policy is desirable because it tackles systemic imbalances in global governance, ensures equitable participation for the Global South, and provides a pathway toward economic sovereignty and sustainable poverty eradication.
