The world economy is dynamic and diverse, and as we enter the 1990s, we recognize that the contours of economic geography are in constant movement. The pace of economic change differs from one 'P":lrt of the globe to the next. Strengths and weaknesses continue to persist. There has been an extended period of growth in many parts of the world economy and an exPansion of international trade. The developing countries, however, suffer a sharP reduction in living standards, still face a heavy burden of debt and have not benefited significantly from the expansion of the rest of the world. E'xtensive debt carrying high real rates of interest has been a blight on domestic and social economic management since 1982. The next decade and its evolutionary path appear to be filled with options, opportunities and risks. New ways of thinking will be required if the trends which shape the present continue. Growing interdependence will bring about an expanded qlobal market in which economic rather than military pawer will achieve larger shares of global output. The world economy will be increasingly based on information, services, high technoloQV and rapid change. Deep cuts in nuclear and JVM/28 A/S-18/PV. 6 133 (Mr. Economou; Greece) conventional arsenals could and should translate into qreater financial flows to the developinq countries and expanded production and trade of qoods. The vast political and economic transformation of the world will inevitably affect the developinq countries. If the 1990s are to be a decade of oppartunity, we must, in our common efforts, ensure that world economic qrowth is sustained and its benefits shared more broadly amonq countries. Its fruits should be distributed more equi tablv amonq the nembers of the qlobal society, and particular attention should be paid to its most disadvantaqed and vulnerable members. The common lonq-term 
**Analysis**
The text discusses the current state and future prospects of the world economy, highlighting issues such as economic growth, international trade, debt, and the distribution of wealth. It also touches on the impact of technological advancements and the need for sustainable and equitable economic growth. The text does not specifically mention natural resources, environment, agriculture, forestry, fishing, health, education, employment, humanitarian aid, or culture.

**Category**
Economic development, International trade