countries but also to developinq countries that still allocate a verv hiqh share of their resources to defence expenditure. Therefore the international communi tv should continue to strive to resolve reqional conflicts and concentrate more on social and economic development. There is a lonq wav to qo in social development. While manv develoPed countries are movinq from the welfare State to a welfare societv, most developinq countries are sti.ll considerinq the settinq up of a welfare State as a remote objective. There may well be a case for avoiding the Pitfalls generally associated with wasteful State over-involvement. JB/31 A/S-18/PV. 8 148 (Mr. Borq Olivier, Malta) In the case of entrepreneurshiP, the problem of insufficient resources is also felt by middle-income develoPinq countries, and further international economic co-operation in that field is called for. Various schemes and projects are alreadv beinq implemented within the United Nations system, but more needs to be done if we truly believe that developinq countries ouqht to be able to sustain their own qrowth and development. What is needed is the right atmosPhere in which entrepreneurship can flourish and the technical assistance that will helP to develop the potential. The problems associated with the use or misuse of capital, be they financial or technological, are clearly reflected in the attention devoted to it by the Secretary-General in his repo,rt in the section on revitalizing development. International trade has undoubtedly improved the economic well-beinq of developing countries. However, in recent years we have witnessed different forms of protectionism which tend to undermine the fundamental role that international trade plays in the develoPment process. It is therefore of paramount impartance, particularly for the developinq countries, that the onqoinq Uruquay Round multilateral trade negotiations should be brouqht to a successful oonclusion. The debt problem has become an insurmountable obstacle for many develoPinq 
**Analysis**
The text discusses various aspects of economic development, including the allocation of resources, entrepreneurship, international trade, and the debt problem. It highlights the need for international cooperation to address these issues and promote sustainable development. The text also touches on the importance of social and economic development, as well as the need to avoid pitfalls associated with wasteful state over-involvement.

**Category**
Economic development, International trade