terms of trade1 growing protectionism, hiqh international interest rates and wide fluctuations in international exchange rates. The lesson imparted to us bv our experience of the Past 10 vears is that there must be svmmetrv between the adjustment proqrammes of the POOr South and those of the rich North. JSM/bq A/S-18/PV.lO 17 (Mr~ M.in; M<,ranmarl The developing countries have demonstrated a commendable awareness that the responsibility for implementing sound economic strateqies rests primarily with themselves. This is evidenced by the programmes of economic reform and adjustment designed to revitalize qrowth and development which many of them are viqorously imPlementing in the face of great difficulties and at a hiqh social cost. However, if these efforts are to bear fruit, it is essential that the pattern of international economic relations be transformed into one that is supportive and equitable. The ooncept of global interdependence which has qained universal recoqni tion requires that each and every nation take fully into account the consequences of its policies. The objective of this special session can be fulfilled and the challenges of the 1990s met only if both the North and the South, in a spirit of partnership and in keePinq with the best traditions of enlightened self-interest, work together in devising a global develoPment strategy that would avoid the collective mistakes of the last two decades and promote sound and sustained socio-economic growth world wide. Given their economic power and their advanced science and technology, the industrialized countries are in a PDsition to make a significant contribution to the elaboration and imPlementation of such a strategy. In my own country, ~anmar, fundamental and far-reachinq economic reforms are being undertaken in response to the urgent need for restructuring our economy in line with the developments in the international economic and business environment. 
**Analysis**
The text discusses the challenges and opportunities for economic development, highlighting the need for international cooperation and the importance of implementing sound economic strategies. It mentions the need for a global development strategy that takes into account the consequences of each country's policies and the role of industrialized countries in contributing to this strategy. The text also touches on the economic reforms being undertaken in the author's country, Myanmar.

**Category**
International trade, Economic development