industrialized countries continue tolooktowards short-term andnarroweconomic interests ratherthanagreeing tojoinhandsinaglobaleffort toimprove the external environment. Theprocessofrecovery oftheireconomies which,the developed nations argue,willinthelongrunbringsuccour totheeconomies ofthe developing countriesandthefearthatjointaction mayerodethespecial privileges enjoyed bythemhaveimpeded aglobalvisionforahealthy andequitable worldeconomic order. Forseveral yearsnow,therehasbeennomeaningful dialogue between the industrialized countries andthedeveloping countries tofindcommonsolutions toBG/12 AI"Q/:PV..18 ..47 (Mr. Yaq~~Khan,Pakistan) thecomplex problems oftheinternational economic system. Inthemeantime, the developing countries whichcontinue tobearthemajorburdenofadjustments andthe graveconsequences ofexternal indebtedness arebeingpusheddangerously closeto thebrinkofsocialandpolitical upheaval. Themeansavailable tofinance the development oftheireconomies arechokedoffbyhigherinterest rates,tougher payment termsandotherconditions imposed bycommercial banks,harshterms demanded bythe'International Monetary Fund(IMF),therisingtideofprotectionism andthedeteriorating termsoftrade. Insuchaninhospitable environment, failure ofdomestic policies ofthedeveloping countries isunjustly citeaasamajorcause fortheirinability topaytheexternal debtandatthesametimemeetthebasic requirements oftheirownpeople. Itisself-evident thatboththeexternal environment anddomestic policies exercise apowerful impactontheprocess ofeconomic development. policies pursued bythedeveloping countries inthedomestic fieldaimedatrapideconomic development cannotsucceed inthefaceofadverse international economic condidons. Admittedly, thesepolicies needtobeimproved~ butthefactremains that,inthefaceofimbalances intheinternational economic system, no adjustments indomestic policies can produce morethanmarginal results. Itisunfortunate thataproposal tolaunchglobalnegotiations hasbeen languishing foroverfiveyears. Wesincerely hopethatthefortieth anniversary celebrations oftheUnitedNationswillrecapture thespiritofco-operation which ledtoitscreation andpavethewaytoagenuine dialogue amongallnations. Perhaps wecouldbeginbyagreeing onaglobalagendaforaNorth-South dialogue to becontinued intheappropriate specialized forums. Thissession shouldalsotry andindicate thepriorities thatarerequired forurgentandlong-term action.BG/l2 A/40/PV:18 48 (Mr.YaqubKhan,Pakistan) Pakistan believes thaturgentmeasures mustbetakentoenablethedeveloping countries toderivelegitimate benefits fromthecurrent economic ~ecovery. For thispurpose, theflowofresources tothedeveloping countries mustbeincreased speedily andsignificantly soastocreatemutually reinforcing economic expansion inallStates. Suchimmediate measures shouldinclude increased official development assistance texpansion ofIMFquotas, newissuesofspecial drawing rights, aroll-back' oftradeprotectionism andadurable andequitable solution of thedebtproblem. Simultaneously, efforts mustbeinitiated tointroduce the structural changes required toachieve rationality andequityininternational economic relations, particularly intheinternational monetary andtradesystems, asalsointechnological andindustrial co-operation. Theextraordinary debtburdenofthedeveloping countries mustbeviewednot onlyasathreattotheinternational banking systembutalsoasanimpediment to highergrowthratesinthedeveloping countries andaconstraint onthescopeand durability ofthe'current economic recovery. Efforts mustbemadetofinda long-term andequitable solution forthecommercial debtofthemiddle-income countries andtheofficial debtofthelow-income countries. AstheUnitedNations marksitsfortieth anniversary thehumancondition has declined tonewdepthsofinsecurity, suffering anddeprivation. Ourgeneration is confronted withtheawesome threatsofannihilation, hunger, poverty, cancerous warsandconflicts whosemenaceseemsinterminable. Wemusthowever becareful nottoattribute theemergence ofthisscenario of despair totheadventoftheUnitedNations ontheworldscene. Forthe Organization hasalsoseentheexpansion andflowering oftechnology andskill,the exploration ofspace,theeradication ofdisease, andtheincreasing useof00/12 A/40/PV.18
**Analysis**
The text discusses the economic struggles of developing countries, the impact of international economic conditions on their development, and the need for a global effort to improve the external environment. It also touches on the importance of technology, skills, and international cooperation. The text's focus is primarily on the economic development of developing countries, and the need for a global approach to address their challenges.

**Category**
Economic development, International trade