We have sent an OTP to your contact. Please enter it below to verify.
Alert
Your message here...
Your notification message here...
For any questions or assistance regarding Customer Support, Sales Inquiries, Technical Support, or General Inquiries, our AI-powered team is here to help!
The period after World War II marked the decolonisation of Asia and Africa, where newly independent nations faced the dual challenge of overcoming poverty and accessing resources to develop their economies, while still being influenced by their colonial past and the dynamics of international institutions.
The end of World War II brought about a significant shift in global structures, leading to the decolonisation of many territories in Asia and Africa during the late 1940s to 1960s. Former colonies became independent nations; however, these nations faced numerous challenges that stemmed from long periods of colonial rule.
Despite these challenges, international institutions such as the IMF and World Bank were ill-equipped to address the needs of these growing nations, focusing primarily on the established industrial economies. Implementation of economic reforms required significant support, which went largely unaddressed, leading to further disparities in global wealth distribution.
Decolonisation: The process that led to the emergence of independent nations from colonial rule after WWII.
IMF and World Bank: Institutions aimed at stabilizing economies, primarily servicing the developed nations more effectively than the new independent states.
NIEO and G-77: Movements among developing countries seeking greater economic control and fairer treatment in the global economy.
To gain freedom, nations strive, through peace and work, they thrive!
Once there was a land of many flags, each flag represented a group that sought peace and autonomy, fighting to thrive despite the weight of history.
Think of 'G-77' as 'Great 77' nations uniting for a prosperous future.
India gaining independence from British rule in 1947.
The establishment of the G-77 in 1964, advocating for the interests of developing countries.
Term: Decolonisation
Definition: The process by which colonies become independent from their colonial rulers.
The process by which colonies become independent from their colonial rulers.
Term: IMF
Definition: International Monetary Fund; an organization aimed at promoting global monetary cooperation and financial stability.
International Monetary Fund; an organization aimed at promoting global monetary cooperation and financial stability.
Term: World Bank
Definition: An international financial institution that provides loans and grants to the governments of developing countries for the purpose of pursuing capital projects.
An international financial institution that provides loans and grants to the governments of developing countries for the purpose of pursuing capital projects.
Term: NIEO
Definition: New International Economic Order; a set of proposals put forth in 1974 by the Group of 77 in reaction to the existing economic order to promote better control of natural resources.
New International Economic Order; a set of proposals put forth in 1974 by the Group of 77 in reaction to the existing economic order to promote better control of natural resources.
Term: G77
Definition: A coalition of developing nations established in 1964 to promote their collective economic interests.
A coalition of developing nations established in 1964 to promote their collective economic interests.
Term: PostColonial
Definition: Referring to the period after a colony gains independence, often characterized by establishing a new identity and resolving legacies of colonialism.
Referring to the period after a colony gains independence, often characterized by establishing a new identity and resolving legacies of colonialism.