UN General Assembly
1965

85. Today colonialism has become largely a thing of the past, but new and more subtle forms of neocolonialism persist. The under-developed economies still depend on international markets dominated by the industrialized countries; consequently, the nations of. Latin America, Africa and Asia have been losing ground in world trade. While the value of their exports, declines, the price of their imports is rising rapidly. In this situation, the developed countries, both those with market economies and those with centrally-planned economies, as consumers of raw materials and producers of manufactured goods, have enjoyed the best of both worlds, whereas the under-developed countries have had the worst of both worlds. We call this economic imperialism, and we could also call it exploitation. 86. It was here, in the United Nations, that this situation was revealed. The regional economic commissions, in their studies, showed what was happening in world trade. The turbulent United Nations Conference on Trade and Development, which was worldwide in scope, gave the poor countries an opportunity to demonstrate the reality in which they live.