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This article has been developed not only as a chronicle of events in the field of international commercial policy but also as development of the thinking of the international community. It carefully records important developments in the GATT, UNCTAD and the UN General Assembly. There is, however, one aspect of the question, which it does not deal with, viz., the international trade policy followed by the soCialist countries of Eastern Europe. This subject requires separate treatment, as the economic system followed by these countries is different from the one followed by the developed market economy countries.

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