Question

Developed countries always try to exploit the developing 3r world countries through technological and capital means. Identify and explain the means adopted by the 3rd world countries to prevent this type of exploitation.

Answer 1

The main challenge of the 3,rd world nations is that they are not at all developed (LDC – Least Developed Countries). They will have to work hard to lift their people out of poverty. Without economic security no country is free in the right sense, if was in the light of this realization that the New Intentional Economic Order (NIEO) came into existence. The Trade Development Conference of the United Nations brought out a report in 1972 and in this report it talks about new trade development plans. It puts forward some proposals with regard to international trade.

1. The developing nations should exercise control on their resources. This is to protect them from being exploited by the developed nations.

2. The developing nations can sell their products in the Western markets and thus improve their trade and profit. 

3. Ensure the availability of advanced technology to the developing nations at affordable rates. Ensure participation of the developing nations in international economic institutions.