the essence of development and shakes the pillars of economic stability in the developing world. Another cause for concern is the continuous backsliding in the terms of trade of developing countries and the decline of comllOdi ty prices, which represent a significant component of their economies. We find that among the most conspicuous causes behind the deterioration of trade are the protectionist policies pursued by the industrialized countries -policies which have begun to assume new forms that were not condoned by international economic organizations. In a recent report, the Secretary-General pinpointed the source of the malady when he said that the industrialized countries seldom take into account the impact of their economic policies on the developing countries; that the seven major industrialized countries focus on their own affairs when they debate their policies; and that they view the advancement and development of third world countries as a totally separate matter. Thus, if there actually exists a decisive international will to extricate the developing countries, in particular the least developed ones, from that vicious circle, the developed countries -especially the seven major industrialized Powers -must adopt a new course in order to improve the international economic environment and prompt economic growth in developing countries. They must do so with a balanced, consistent co-ordination between themselves and the developing countries within a consensual framework, such as the North-South dialogue. Attention must also focus on effective development and structural projects rather than on short-term procedures. Kuwait believes that financial flows to developing nations are the life-blood of those countries' development programmes. In the 1970s, the United Nations set a JB/8 A/S-18/PV.4 33 (Mr. Al-Sabah, Kuwait) target for the flow of resources at o. 7 per cent of GNP. The available figures do not indicate an adequate response by the industrialized countries to that request, 
**Analysis**
The text primarily discusses the challenges faced by developing countries in terms of economic stability, trade, and development, highlighting the role of industrialized countries in perpetuating these issues. It also touches on the importance of financial flows to developing nations and the need for a balanced and coordinated approach to address these challenges.

**Category**
Economic development, International trade