and stands in need of an objective and decisive remedy. In fact, when I indicate the gravity of the situation, I do not refer only to the economic aspects but also warn, in particular, of the social repercussions in most countries. Hence, the question: can we on the dawn of this new era, be in the process of formulating new international relations at a time when the plight of the overwhelming majority of mankind is going from bad to worse? This situation can never be the basis for sound political relations or for a secure internatinal order, unless it is built on the right fotmdations of taking into account the circumstances of all and the aspirations of developing societies, as well as the needs of the developed countries. Another important factor is the successive and profound changes in Eastern and Central Europe, historical changes which will undoubtedly contribute to forging a new international order established on precepts and foundations far removed from the international political and economic relations which have prevailed to the present day. These changes eh not simply imply the ending of political and ideological polarization between the East and the West but proclaim the end of ~ economic systems of fundamental contradiction and the beginning of an era that ~, could well be dominated by a sole economic nodel based on the tendency to adopt free-market policies and on a decline in the role of Governments in the manaqenent of production and distribution in certain countries. Needless to say, the effects of such changes will go far beyond qeoqraphic borders to have an impact on the entire international sysem. Indeed, the integration of Eastern Europe into the world economy will lead to far-reachinq developments: Eastern Europe -and this is a fact we cannot deny -will act as 
**Analysis**
The text discusses the gravity of the current situation, referring to both economic and social aspects, and questions whether the international relations can be built on the right foundations, taking into account the circumstances of all and the aspirations of developing societies. It also mentions the changes in Eastern and Central Europe, which will have an impact on the international system. This suggests that the text is primarily focused on international relations and global governance.

**Category**
International trade, Economic development