Wealth (NIEO and PIEO) and Vaccine Inequality (New), Climate Justice

In 1973, oil-producing States sharply cut supply and prices spiked, and out of that shock came the developing world’s most ambitious economic demand of the twentieth century: a New International Economic Order. Half a century on, the same argument about who owns the world’s resources and who pays for climate change is still being fought, just under different names — PIEO, COVAX, carbon credits.

In two minutes

The NIEO was the developing world’s 1970s demand to rebuild the world economy in its favour; the PIEO was a competing, more market-oriented vision from the developed world; and the same North–South argument over fairness now plays out in vaccine access and in who is asked to pay for climate change.

The rest of this chapter

The full explanation, the cheat sheet, every previous-year question at every mark weight, the quiz and the answer skeletons are part of Political Science – III: International Relations on LexBlox Semester. Sign in to unlock the subject, or read Module 1 of Legal Language and Writing free.