UN General Assembly
1981

27. But as the recycling of financial surpluses was finally channeled to the industrialized States through private banks, those States availed themselves of a series of mechanisms which helped them to overcome their main basic problems. They introduced more streamlined protectionist policies, passed on the higher cost of money and oil to the prices of their products and services, and made aggressive inroads into the international market with new subsidized exports that compete unfairly with the traditional exports of the developing countries. 28. Obviously the non-oil producing developing countries are the ones that meet the cost of balancing the accounts. They have to pay more for energy, for capital goods, for industrial inputs, for finished products and, more specifically, for currency.