UN General Assembly
1981

136. Together with the augmentation of political tension, 1981 has also been marked by the aggravation of the world economic situation. Indeed, the economic crisis which has held the world in its grip for several years has continued to worsen, because of the lack of appropriate measures which should have been taken by the developed capitalist countries to redress the situation. In this regard, the proposal of the developing countries that global negotiations on development and international cooperation be embarked upon with a view to bringing about the new international economic order has encountered unjustifiable obstacles erected by certain developed countries which took part in the NorthSouth dialog in Paris. In the interest of mutually beneficial international cooperation it is necessary for the negotiations to begin as soon as possible and to lead to the desired results. Otherwise, it is to be feared that the economic difficulties will become worse, giving rise to international crisis with the gravest possible consequences.