UN General Assembly
1979

358. In the face of a situation which is becoming intolerable, the international community, as if beset by impotence, seems resigned to events. In this connexion the paralysis which is a characteristic feature of present international economic negotiations stands in stark contrast with the professions of faith in dialogue, the regularity of which can no longer disguise their Platonic nature. 359. Is it not in fact the logic of confrontation which continues to predominate? Growing protectionism with regard to the products of the South and the manipulation of gold, of reserve currencies and of the monetary system generally speaking in order to serve the sole interests of the wealthy countries, not to mention the devising of doctrines of military intervention towards certain countries of the South, can hardly be said to reflect a spirit of co-operation. 360. Now, therefore, can we be surprised at the legitimate reaction of those developing countries in a position slightly to offset the effects on their economies of imported inflation and the depreciation of reserve currencies?