UN General Assembly
1979

151. All the foregoing is not the result of cyclical changes but rather of what we believe to be a structural maladjustment in the present international economic order. This order is unsatisfactory from every point of view, both for the industrialized countries of the North and for the mass of the developing countries concentrated in the South. In fact, although the industrialized countries presumably benefit from the present structure, they are now stricken with high inflation rates, economic stagnation, recession and unemployment, that bring a host of evil social consequences—all problems that had been considered characteristic of, and even endemic in, the developing countries alone. Therefore, it is obvious that a change in the present economic structure would benefit both sides. At the same time it is evident that such an undertaking can be achieved only by means of vigorous international co-operation.