Correct option is B
1. Paris Conference (1975) – Establishment of the New International Economic Order (NIEO)
- Year: 1975
- Key Focus: Establishment of the New International Economic Order (NIEO).
- Details:
- The Paris Conference was held under the framework of the Conference on International Economic Cooperation (CIEC).
- It was a response to the economic disparities between developed and developing nations, particularly after the oil crisis of 1973.
- The NIEO was proposed by the United Nations General Assembly (UNGA) in 1974 to promote a more just and equitable economic order.
- Main demands of NIEO included:
- Better terms of trade for developing nations.
- More equitable control over global resources.
- Increased financial assistance and debt relief.
- However, Western nations resisted major economic reforms, and the Paris Conference saw limited success.
2. Brandt Commission (1980) – North-South Economic Disparities Report
- Year: 1980
- Key Focus: Analyzing economic interdependence and disparities between North and South.
- Details:
- The Brandt Commission, officially called the Independent Commission on International Development Issues, was chaired by Willy Brandt, former Chancellor of West Germany.
- The commission published the Brandt Report ("North-South: A Program for Survival") in 1980.
- Key recommendations of the report:
- Increased economic cooperation between developed and developing nations.
- Promotion of fair trade and reduction of protectionism.
- Debt relief and increased aid to developing countries.
- More investments in global infrastructure and human development.
- The report was highly influential but had limited direct implementation due to resistance from powerful economies.
3. Cancun Conference (1981) – North-South Economic Dialogue
- Year: 1981
- Key Focus: A high-level summit between developed and developing countries to discuss economic cooperation.
- Details:
- The North-South Summit, also called the Cancun Conference, was held in Mexico in 1981.
- Leaders from 22 countries (including the U.S., U.K., France, and India) attended.
- The meeting aimed to bridge economic gaps between rich and poor nations, focusing on:
- Economic aid and investment in the Global South.
- Food security and agricultural assistance.
- Reducing trade barriers and promoting technology transfer.
- Outcomes:
- U.S. President Ronald Reagan opposed many proposals, including calls for a global economic restructuring.
- The conference ended without a consensus, and tensions between developed and developing nations remained high.
4. Uruguay Talks (1986-1994) – Trade Negotiations Under GATT, Leading to WTO Formation
- Year: 1986-1994
- Key Focus: Liberalizing global trade under the General Agreement on Tariffs and Trade (GATT).
- Details:
- The Uruguay Round of trade negotiations was launched in Punta del Este, Uruguay in 1986.
- The negotiations lasted for 8 years and culminated in the Marrakesh Agreement (1994), which led to the formation of the World Trade Organization (WTO) in 1995.
- Key trade liberalization measures:
- Reduction of tariffs and non-tariff barriers.
- Strengthening of intellectual property rights (TRIPS Agreement).
- Expansion of global trade rules to cover services and agriculture.
- Impact on North-South Relations:
- Developed nations pushed for more open markets, benefiting large multinational corporations.
- Developing nations sought greater access to global markets but faced challenges like intellectual property restrictions and agricultural subsidies in the West.
- The Uruguay Round significantly transformed global trade, but critics argue that it favored developed economies over the Global South.
Hence correct chronological order will be (3) Paris Conference (1975) → (2) Brandt Commission (1980) → (1) Cancun Conference (1981) → (4) Uruguay Talks (1986-1994)