UN General Assembly
1982

international co-operation can restore growth and development. However, as the troubles of the industrialized countries increase international co-operation tends to diminish and con¬cern for developing countries wanes. Unlike the last major recession, in the mid-1970s, when increased aid and private capital flows to developing nations helped to shield them from its worse effects, this time the developing countries are left to face the full brunt largely unassisted. Developing countries, particularly the deficit developing countries, need more time and resources to carry out structural adjustments in a way that will minimize the loss of output, employment and income. 32. At no time has the economic interdependence among nations been more evident and at no time has there been greater need for the formulation of collec¬tive policies and reforms of established rules of conduct. Especially in the light of the current world recession, the formulation of a scheme for integrated development is indispensable. 33. It is with this conviction that my Government supports the launching of the global negotiations in an effort to deal with international economic issues in a comprehensive