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Rhetorical Appeals and Strategic Cooptation in the Rise and Fall of The New International Economic Order

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  • Orfeo Fioretos

Abstract

The global governance institutions that structure economic relations between industrialized and developing countries have been contested since their inception. This contribution revisits elements of the struggle over the ‘new international economic order’, or NIEO, in the 1970s. Contemporaneous observers and political leaders saw the initiative as part of the first major shift in global power after 1945. Using strategies of rhetorical coercion and persuasion that aimed to radically reform global economic governance, a large coalition of developing nations proposed a reform agenda designed to expand the authority of the United Nations and reduce the importance of Bretton Woods institutions. In response, a small coalition of industrialized countries adopted strategies of cooptation that entailed ‘case‐by‐case’ cooperation with developing countries with the goal of limiting overall reforms. The contribution uses historical archives from deliberations within and among industrialized countries to reveal the sources behind their response to the NIEO and follow‐up initiatives. It shows that industrialized countries chose to deemphasize strategies of argumentation in favor of strategies of cooptation in their efforts to limit transformative change in global economic governance.

Suggested Citation

  • Orfeo Fioretos, 2020. "Rhetorical Appeals and Strategic Cooptation in the Rise and Fall of The New International Economic Order," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 73-82, October.
  • Handle: RePEc:bla:glopol:v:11:y:2020:i:s3:p:73-82
    DOI: 10.1111/1758-5899.12866
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    References listed on IDEAS

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    1. Orfeo Fioretos, 2019. "Minilateralism and informality in international monetary cooperation," Review of International Political Economy, Taylor & Francis Journals, vol. 26(6), pages 1136-1159, November.
    2. Kaya,Ayse, 2015. "Power and Global Economic Institutions," Cambridge Books, Cambridge University Press, number 9781107120945, September.
    3. Cox, Robert W., 1979. "Ideologies and the New International Economic Order: reflections on some recent literature," International Organization, Cambridge University Press, vol. 33(2), pages 257-302, April.
    4. Andreas Kruck & Bernhard Zangl, 2020. "The Adjustment of International Institutions to Global Power Shifts: A Framework for Analysis," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 5-16, October.
    5. Matthew D. Stephen & Kathrin Stephen, 2020. "The Integration of Emerging Powers into Club Institutions: China and the Arctic Council," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 51-60, October.
    6. Stephen, Matthew D. & Stephen, Kathrin, 2020. "The Integration of Emerging Powers into Club Institutions: China and the Arctic Council," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 11(S3), pages 51-60.
    7. Lora Anne Viola, 2020. "US Strategies of Institutional Adaptation in the Face of Hegemonic Decline," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 28-39, October.
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    1. Lora Anne Viola, 2020. "US Strategies of Institutional Adaptation in the Face of Hegemonic Decline," Global Policy, London School of Economics and Political Science, vol. 11(S3), pages 28-39, October.

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