ABSTRACT
The global course of future mineral development and consumption is changing, but the outlook is mixed. The location and financing of this development will largely determine the future flow of materials in international trade. The effects of economic and technological change on minerals demand are likely to be felt most strongly in developed countries where the bulk of industrial production takes place and research in materials utilization is conducted. The centrally planned economies are a relatively minor source of minerals moving in international trade, producing about 11 percent of the world's mineral exports. Nearly all the major international minerals markets have experienced a state of oversupply. For many developing countries, their export earnings are needed to help maintain economic stability and meet the interest payments on international debts they incurred to finance development during past decades. The Agency for International Development was created in 1961 within the Department of State to administer the US bilateral development assistance program.
