of an international loan of $1 billion, a vast sum in those days, to assist European countries to recover from the destruction of the First World War and to help them with heavy war reparations. Just as nuch of Europe was devastated and prostrate after the destruction of the Second World War, rruch of the third world today is prostrate from the debt burden and other economic Problems. If Keynes were alive today, he would surely understand and argue for a similar effort to assist develoPing countries. He would agree that a prosperous third world would, through the multiplier effect, help increase world economic growth. The alternative to successful international economic co-operation is grim, namely, a slow and continuing decline for many third world countries, while the developed countries build themselves into economic fortresses surrounded by a favoured few allied developing countries. The global economy will lose economic growth from missed opportunity cost. The global environment will continue to deteriorate under the ecological stress generated by population Pressures and poverty. The differentiation between rich and poor will become sharper, but it will not be a better or a happier world for the rich. We must thus look for new ideas to jump-start or fast-forward economic growth in the third world. As we stand on the threshold of the 1990s the choices are clear. One scenario leads to a more integrated world and working in economic partnership. The time has cone for a new approach. Thus, the idea of individual nations seeking self-sufficiency has given way to international economic co-operation. In this context developing countries have watched with interest the expeditious establishment of the European Bank for Reconstruction and Development for Eastern Europe, which is a symbol of hope that perhaps a similar effort could be launched for countries nost in need. :RM./17 A/S-18/PV.8 79-80 (Mrs. Chan, Sinqapore) 
**Analysis**
The text discusses the economic development of developing countries, highlighting the need for international cooperation to address debt burden, poverty, and economic growth. It also touches on the theme of global environmental degradation and its relationship to economic growth. The text does not specifically mention any of the other categories, such as agriculture, industry, transport, health, education, employment, humanitarian aid, culture, or science and technology.

**Category**
Economic development, International trade