The disappointments of the first Development Decade that is ending this year are writ large in the report of the 18-member United Nations Committee on the goals and strategy of developmental planning for the Second Development Decade commencing next year. Apart from emphasising the responsibility of the advanced nations to set apart one per cent of their gross national product for economic assistance to the developing countries, the report suggests that “developed countries should attempt to supply at least 80 per cent of their financial assistance in the form of grants by 1975”. It is indeed true that the volume of net aid has thinned considerably from year to year, what with debt charges (on repayment of principal and payment of interest) mounting and the quantum of total aid steadily going down. A larger element of grant in the assistance given will no doubt help. But more lasting help would be opportunities for increasing trade and this would call for the advanced nations lowering their trade barriers. The trade picture, however, remains unchanged despite the much-boosted Kennedy Round of tariff concessions.
