One incentive which would be immediately effective -and which I would like to propose for consideration -is the provision of domestic tax relief of, say, 50 per cent on any investment by corporations in developinq or East European countries. The initial loss of tax income by the investing countries would be more than covered by the increase in business activity in the same countries and the resulting profit returns from the venture. Here I should like to state briefly that, in my view, the foreign-investment needs of the East European countries are not in competition with those of the JVM/5 A/S-18/PV. 6 19-20 (President Vassil iou) tradi tiona! developinq countries. Indeed, with the riqht external assistance and domestic policies, the East European countries themselves could soon be a position to help ameliorate, rather than complicate, the problem of the qlobal wealth qap. Indicatively, a study just pUblished forecasts a $38 billion to $76 billion qrowth in world trade, as a result of the inteqration of the Soviet and Eastern European economies into the world economic system. RH/6 A/S-18/PV. 6 21 (President Vassiliou} Considerations of economic develoPment must qo hand in hand with considerations of eooloqical development, and ways found to oonb ine Profit with the preservation of the env ircn ment. There is onl v one Earth, and it is humankind's only home. We must Preserve the planet or oerish. The resPOnsibility for be3rinq the cost of reoairinq the damaqe already done must lie with those mainly responsible for causinq that damaqe, namely the developed nations. The settinq up of a qlobal fund for the envircnment. contributions to whidl would be Proportional to national inoome, could qenerate fundinq for nature oonservation. I mentioned earlier the unacceptably hi qh child mortali tv rate which poverty 
**Analysis**
The text primarily discusses the relationship between economic development and the environment, highlighting the need for international cooperation and responsibility in addressing global issues such as poverty and environmental degradation. It also touches on the topic of international trade and investment, proposing a tax relief incentive to promote economic growth in Eastern European countries.

**Category**
Economic development, International trade