and the number of countries considered to be least developed has increased from 24 in the 1970s to 42 today. Every day, the countries of the South see a lessening of any hope for improving their peoples' standard of living. At the same time, the industrialized countries have experienced a period of sustained growth, and that growth has accelerated in recent years. Therefore, the existing immense disparities between the rich countries and the developing countries have become worse. The reasons for this situation, which is anachronistic, to say the least, have been identified. To the perpetual problem of deteriorating terms of trade has been added a combination of new factors, such as the debt burden, the pernicious and destabilizing effects of structural adjustment programmes, a resurqence of Protectionism in world trade and an increase in interest rates. JP/bq A/S-18/PV.9 22 (Mr. Ravix, Haiti ) Even more serious is the economic bloodletting resulting from the net transfer of resources from the developing to the developed countries, caused by the decline in investment in the countries of the third world and by debt servicing, which forces the third world countries to make even greater outlays. It is true that efforts have been made to resolve these serious problems. However, in many cases promises have not been kept, and in others the measures taken have not had the expected effect. That is why, as we enter the Fourth Development Decade, rightly regarded as the last hope for the third world to extricate itself from chronic underdevelopment, we propose tackling the problem with a new approach and advocate the adoption of innovative measures meeting the specific nature of the problems. In that regard, an unprecedented effort of international solidarity should help us cope with the great challenge ahead of us during the decade. Such 
**Analysis**
The text primarily focuses on the economic disparities between developed and developing countries, highlighting the worsening situation and the need for a new approach to tackle the problem. The discussion revolves around the decline of terms of trade, debt burden, structural adjustment programs, and protectionism, which all have a significant impact on the economic development of developing countries.

**Category**
Economic development, International trade