Explain the relevance of NAM in the contemporary scenario ?

The Non-Aligned Movement (NAM) is a group of countries which decided not to join any major power bloc during the Cold War. Though NAM was formed to tackle the Cold War, it has not lost its importance even now. It still stands for securing international peace and security in the world. With the emergence of neo colonialism ( use of economic, political, cultural or other pressure to influence former colonies), many newly independent nations were unable to take concrete decisions in the economic fields due to the pressure exerted by the powerful nations and organisations like the World Bank, WTO, IMF etc. Under such circumstances, NAM came forward to help these countries in trying to asserting their economic rights. USA off late has emerged as a powerful nation. NAM has immense potentialities and experience to prevent the dominating of USA over countries like Iraq and Afghanistan.