The paradox of 30 per cent of the world's popUlation having more than 85 per cent of the world's income can no lonqer be tolerated in a world which is moving day by day towards greater interdependence among its oomPQnent parts, while the greatest population explosion will have occurred by the year 2000. The developing countries in West Asia, including the States ment>ers of the Arab Gulf Co-operation Council, have to various degrees been faced with the same problems that beset most developing countries. These problems are due to the adverse international economic environment, in the wake of the sharp decline in oil revenues which resulted from the oil marketing crisis and the fall in prices stemminq from the policies and measures planned by the industrialized countries since the 1970s. The oil exporting Arab States in the Gulf were thus forced to adopt austeri tv measures that called for a reconsideration of their developnent plans. Also, their economic qrowth rates registered a large decline, as did the overall qrowth of their gross national product and their groa:; domestic product. Their balance of payments and their budgets thus registered successive deficits, thereby weakening the position of those countries as aid donors to continue to provide assistance to the developing countries. Unless oil revenues improve, BHS/td A/S-18/PV. 6 54-55 (Mr. Al-Shakar, Bahrain) spendinq on socio-economic development projects will continue to be cut. This will lead to an aqqravation of the economic stalemate in those oountries in the 1990s. The problem of foreiqn debt emerqed as a major international concern durinq the 1980s, amountinq to more than $1.1 trillion by 1989. The rise of interest rates in the international financial markets has led to hiqher interest outstandinq on dabts, which has further weakened the ability of developinq countries to repay 
**Analysis**
The text discusses the economic challenges faced by developing countries, particularly those in West Asia, due to the decline in oil revenues and the rise of foreign debt. It highlights the need for oil-exporting countries to reconsider their development plans and the impact of foreign debt on their ability to provide aid to other developing countries. The text does not mention natural resources, environment, agriculture, forestry, fishing, industry, transport, communication, health, education, employment, humanitarian aid, or culture.

**Category**
Economic development, International trade