The principles of the New International Economic Order (NIEO) are put forth at the United Nations by developing countries to propose a more favorable global economic climate for nations in the Global South and people living in poverty.

Their intent is to: "transform the governance of the global economy to redirect more of the benefits of transnational integration toward 'the developing nations'–thus completing the geopolitical process of decolonization and creating a democratic global order of truly sovereign states" (Gilman, 2015).

Countries in the Global North will refuse to participate and the initiative will quickly fade away.