inflation, instability of exchanqe rates and protectionist barriers are factored in, they all serve to stifle everv conceivable attemPt bv the developinq world to deal with the Problems of qrowth and seek to establish a sound economic structure or a sturdy social system. There is great need to alleviate the developinq countries' foreign debt, which constitutes the major impediment to their economic development. This is a problem for which appropriate solutions nust be found urqentlv. In this connection, we support all constructive efforts under wav. Concomitantly, we should not overlook the oroblem ,of the environment, for whose degradation the industrial world bears the qreatest share of the resoonsibili tv and whose consequences the developinq countries have to endure. Another major reason for the qrowinq interrelationshiP between countries today is the scientific and technical proqress under way. The increasinq. inteqration in the world economy, manifested by the rise in the volume of world trade and the accelerating complementari tv between financial markets, calls for the adoption of policies capable of inteqratinq the economies of the developinq countries into the !Mlinstream of the global economy, in a manner that will help strenqthen their national economies and enhance the international economic system. In this reqard, the industrialized nations must shoulder a major responsibili tv and abide by their commitment to aid and support the developing world. RH/14 A/S-18/PV. 7 63 (Mr. Shihabi, Saudi Arabia) Despite the constraints the Kingdom's economy has suffered over the last decade, owing to the fall in oil prices, our Government has spared no effort in workinq to rationalize the economy in order to preserve efficient performance and enhance competitiveness, without recourse to protective measures. This policy has been pursued even though our tra& partners in the industrial world have imposed 
**Analysis**
The text discusses the challenges faced by developing countries, including foreign debt, protectionist barriers, and environmental degradation, and emphasizes the need for the industrialized nations to support their economic development. It also highlights the importance of integrating the developing countries into the global economy through policies that promote their national economies and enhance the international economic system.

**Category**
Economic development, International trade