UN General Assembly
1952

46. The most important factor for the nations known as the under-developed countries, or those which are going through the process of industrialization and are developing towards economic independence, is the question of the price of raw materials as compared to that of the Manufactured goods which these countries have to acquire for their subsistence and development. It is absolutely essential to establish fair relations in trade if these countries are to be able to build up the capital formation within their frontiers which they need for progress and economic expansion. The deterioration in the balance of trade is the result of a historic process and it will in the long run be fatal if the highly industrialized countries fail to take adequate steps to correct this trend.