capital from developed and developing countries which is greatly needed to stimulate those countries' own recovery. World trade grew at the buoyant rate of 9 per cent in volume terms last year. But a significant slow-down is expected this year. Any hope that trade can serve in a substantial way as an engine of growth is invalidated by the rise in protection which is taking place even at this time of recovery; and the possibilities of escalating beggar-they-neighbour trade policies, which could be triggered by persistently misaligned currencies, are never far in the background. 4. In the industrial countries unemployment remains stubbornly high and even in the United States it remains much above the levels seen in better times in the past. 5. In the developing world, special factors prevent many countries from sharing in economic improvement to the extent that should be expected from historical experience. Commodity prices, which normally respond quickly to increased demand, remain depressed; in dollar terms the prices of industrial raw materials fell by 19 per cent in the year to March 1985. The highly indebted countries, both middle- income and low-income, find much of their improved export earnings dissipated in increased interest payments on foreign debt. Thus, non-oil developing countries paid 3.5 billion more in foreign interest payments in 1984 on the already large burden of $68 billion in 1983. To meet those burdensome debt service payments, the 20 largest indebted developing countries had to produce a trade surplus of $30 billion last year. Thus, for many of those countries, despite a substantial increase in export earnings, the ratio of interest payments to export earnings remained unchanged. For some of them, the historically anomalous situation was realized in 1984 as in 1983, where they were saddled with a negative resource 
**Analysis**
The text primarily discusses the economic situation of various countries, highlighting issues such as trade, debt, and unemployment. It also touches on the impact of protectionism and currency misalignments on global trade. The text does not mention natural resources, environment, agriculture, forestry, fishing, transport, communication, health, education, humanitarian aid, or culture. It does not seem to have a focus on science and technology.

**Category**
International trade, Employment, Economic development