with suspicion and even hatred are fallinq apart. A new code of rules that will Qovern the future oonduct of international relations, which includes a maior role for the United Nations, is evolvinq. Of the many notable achievements, Namibia's independence has vindicated the trust and confidence rePOsed in the United Nations. We are Pleased that Namibia's admission to the United Nations was fittinqly solemnized durinq this special session of the General Assemblv. I would 1 ike once aqain, on behalf of the Royal Government of Bhutan, to extend our warm felicitations to the Government and people of Namibia and welcome it to this comitv of sovereion nations. Althouqh the recent P'iSt has seen sionificant and substantive chanqes assurinq a new era of hope in the political sphere, the economic picture remains bleak. JVM/4 A/S-18/PV.10 3 (Mr~ Tsherinq, Bhutanl Manv speak of the 1980s as the wasted decade, a decade of disaPPOinted hooe or, most frequently, the lost decade as far as d:!velooment is concerned. The reasons are man"; and much has already been said about them. However I see a virtue in some repetition here, esPecially when this session is oonsiderinq the causes of the Present economic malaise and a Prescription for their retredv. The sluCICiish or non-existent development of the 1980s can be attributed to the deterioration in the terms of trade, increasinq Protectionism, reduction in the flow of financial assistance to developing countries, hiqh interest rates, the reverse transfer of resources from developinq to developed countries, volatile exchanqe rates, and a fall in oommoditv prices. The debt crisis has further aQQravated the situation in manv developinq countries and hampered their Qrowth and development· The adverse international economic climate has brouqht qreat sufferinQ and hardship to all developinq countries. The imllact, however, has been more Profound 
**Analysis**
The text primarily discusses the economic situation of developing countries, specifically the debt crisis and the factors that contributed to it. It also touches on the role of the United Nations in promoting international cooperation and development. The tone is more formal and diplomatic, suggesting an official or governmental context.

**Category**
Economic development, International trade