Initially, the international commodity markets experienced high short-term price instability. Although there still were important commodities that showed short-term instability, real commodity prices underwent a downward trend that began in 1980. This change had a number of negative effects particularly in terms of the export earnings, foreign debt size, and the ability to obtain substantial progress of developing countries. To evolve a set of measures for raising depressed commodity prices and commodity export earning levels, negations between developing and developed countries had to be prioritized. This chapter highlights the fact that these measures are crucial in formulating an international strategy for improving and hastening the development process particularly for low income countries and those dependent on commodities.
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