world-wide for foreign resources both public and private. For developinq countries s trugql inq with domes tic economic and external financial problems, macro-economic reforms -in particular sound fiscal, monetary and exchange-rate policies -remain critical. However, they alone are not sufficient. Policies on the suoply side designed to free up rigidities, allow the marketplace to work and boast production are essential to combining adjustment with growth. Policies which liberalize trade, reform labour markets, develop financial markets and privatize Government enterprises allow the private sector to help increase employment and efficiency. Measures which help to mobilize savings, encourage new investment and foster repatriation of flight capital can provide essential new finance to boost and sustain economic growth. The United States recognizes that national economic policies are not sufficient by themselves. The international economic environment is equally important. In this regard, the developed world has a special responsibility. In RH/8 A/S-18/PV.S 28 (Mr. Pickering, United States) particular, the major industrialized countries must promote sustained world growth and expanding trade. In doing so, they must be sensitive to the needs of developing countries and maintain an active partnership in an international economic climate that seeks to achieve mutual benefits by means of reasoned and responsible dialogue. In both developed and developing countries the task of formulating and adopting appropriate national policies is now more difficult and complex than it used to be. Transnational terrorism and illicit trafficking in narcotics represent negative phenomena that sap economic growth and development. The need to preserve and enhance our increasingly endangered environment imposes its own costs and constraints. Nations must also address issues related to the transfer of technologv, including the protection of cowrights, trademarks and other forms of intellectual property. New and evolving methods for regional political and economic co-operation can help to address all of these problems. 
**Analysis**
The text discusses the challenges faced by developing countries in achieving economic growth, the importance of macro-economic reforms, and the need for international cooperation to promote sustained world growth and expanding trade. It also mentions the impact of transnational terrorism, illicit trafficking, and environmental concerns on economic development. The text does not specifically address agriculture, forestry, fishing, health, education, humanitarian aid, culture, or science and technology.

**Category**
Economic development, International trade