independent States have attempted to match their political independence with socio-economic growth. Few have succeeded, many have failed. Nearly one third of the United Natiors membership is now classi fed as least developed countries. That is a graphic indicator of a dismal international economic situation. In particular, developing countries are now also concerned over th:! greater competition for scarce international investments and other financial resources, which appear to be increasingly directed to the newly emerging denocracies. Hernando de Soto, the Peruvian author of The Other Path, has described that diversion of financial resources away from the third world as "from where capitalism has failed to where socialism has failed". JB/16 A/S-18/PV.S 73 (Mrs. Chan; Sinqapore) In contrast, world politics seem to te proqressinq well. The qreat ideological battle koown as the oold war increasingly seems to be in decline. Super-Power relations are cordial. The United Nations is held in hiqh regard. Ideology is less salient in qlobal politics. Decolonization has been larqely accomplished. Reqional conflicts appear to be nearer solution as qreat Powers disenqage themselves and activelv co-operate to persuade factions and parties to accept political solutions. Great regions of the world concentrate their energies on buildinq regional associations, such as the sinqle European narket. It is interesting and instructive to compare and contrast the relative progress in international political relations and international economic relations. There are probably numerous reasons whv more proqress has been achieved in international political relations than in international economic relations. A possible reason could be that in the global political sphere, many countries understand that they share a communality of interests in mutual survival, while international economic relations are viewed as a zero-sum qame. Markets, technology, exports and foreiqn exchanqe are seen as proprietary and exclusive. Economic competition is viewed as natural, while political co-operation is perceived as a necessity. 
**Analysis**
The text discusses the contrast between the progress made in international political relations and the lack of progress in international economic relations. It highlights the challenges faced by developing countries in achieving socio-economic growth and the competition for scarce international investments. The text also touches on the shift from ideological conflicts to cooperation in global politics.

**Category**
Economic development, International trade