speed with which people, information, money, finance and business transactions flow across national borders has brouqht countries and their economies closer toqe ther and made them more interdependent. With increased interdependence comes the reality that events unfoldinq in one country inevi tablv impact on other countries. The Bahamas is ever mindful of the effects of increased interdependence and a healthy qlobal economy, for these are the very tenets upon which our economy in tourism and bankinq are built. External events have always impacted both neqatively and positively on our historical and economic development. However, in the very areas which brinq us closer lies the potential for conflict between developed and developinq countries. The more powerful a country's economic weight in such a system, the more influence it can exert. The weak actors in such a system may find it more difficult to adjust to rapid chanqes, particularly if their internal structures are not sophisticated enouqh. This is one of the qreatest challenqes we face in the cominq decade. We must jointly aqree on the ways and means of addressinq the problems which can result from our interdependent relations and assess their imPlications for the continued qrowth and development of developinq countries. BHS/ga A/S-18/PV. 6 158 (Mr. Moultrie, Bahamas) The international community saw the wisdom of collective action in tacklinq the global problems which we faced when we met here to hold the seventeenth sPecial session. The stark realization that drug lords were abusing the interdependence of States to traffic in illicit druqs and launder their proceeds forced the in temational community to consider developing mechanisms to prevent the illeqal use of the international bank inq system by druq traffickers. This was particularly important and significant for my Government. The Bahamas has always underscored the need for increased co-operation between all Governments affected by the drug 
**Analysis**
The text discusses the implications of globalization on countries' economies, particularly the Bahamas, and the need for international cooperation to address the challenges that come with interdependence. It touches on the impact of external events on the country's economy and the potential for conflict between developed and developing countries.

**Category**
Economic development, International trade