UN General Assembly
1981

279. For developed industrialized countries, the postwar era of boom and prosperity seems to be running out of steam and the long period of growth seems to be halted in its track by a general recession, exacerbated by monetary instability, high interest rates and mounting unemployment. 280. For most developing countries, the rising cost of imports of manufactures, oil and food, the deteriorating terms of trade and the worsening balance of payment deficits have all, over the period, set in with particular severity to make life more miserable for their peoples and make more distant and difficult the prospect of realizing their human development.