several reasons. First, the world today is experiencing changes in relations between nations that can ooly_ be described as historical. Secondly, there are signs that the relations between developed and developing countries are about to enter into a new, positively pragmatic stage. Thirdly, the interdependence of nations and issues seems more and more acknowledged. Fourthly, we already live in a world where economic decisions affecting one nation also have an impact on other nations, enhanced by the integration of financial markets and by the rapid development of conmunications. RM/16 A/S-18/PV. 2 72 (Mr. Helenius, Finland) The initiative for a special sessioo of the General Assembly devoted to international economic co-operation, in particular the revitalization of economic growth and development of the developing countries, was launched about a year and a half ago by the developing countries. My Government welcomed the initiative as a window of opportunities, even though in those days many developments which today dominate the international scene were not foreseeable. It is obvious that the improvement in East-West relations and the developments in Eastern and Central Europe have an im:i;:e.ct on other countries outside the European region as well. We are convinced that the enhanced integration of those economies into the global economy will improve the ability of the world community as a whole to respond better to the deep-seated problems related to the resumption of economic growth and development in the developing countries. In the 1990s developing countries will face unprecedented economic, demographic and environmental pressures. Poverty will oontinue to affect about one billion people all together. At the same time, the world's ecosystem is in danger, requiring decisive action and possibly profound adaptations in economic activity in both developed and developing countries.* To meet those challenges established patterns of thinking are giving way to a 
**Analysis**
The text discusses the current state of international economic cooperation and its relation to the development of developing countries. It highlights the importance of economic growth, poverty reduction, and environmental sustainability. The text also mentions the impact of global events, such as the improvement in East-West relations and the integration of Eastern and Central European economies, on the global economy.

**Category**
Economic development, International trade