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Explain what is referred to as …

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Explain what is referred to as G-77 countries. In what ways can G-77 be seen as a reaction to the activities of Bretton - Wood's twins? Plz tell

Posted by Chētnà Pandey✌️ 6 years, 9 months ago

CBSE > Class 10 > Social Science

2 answers

Chētnà Pandey✌️ 6 years, 9 months ago

Thanks Prani Garg for help.

Ishita Garg 6 years, 9 months ago

The G-77 is an abbreviation for the group of 77 countries that demanded a new international economic order (NIEO) ; a system that would give them real control over their natural resources ,without being victims of neo-colonialism, that is, a new form of colonialism in trade practised by former colonial powers. The G-77 can be seen as reaction to the activities of the Bretton woods twins(The International Monetary Fund and World bank) because these two institutions were designed to meet the financial needs of industrial and developed countries,and did nothing for the economic growth of former colonies and developing nations.

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