managed to control inflation and reduce unemPloyment; they succeeded in establishing, expanding and strengthening new economic groupings that have enhanced their capacities to fulfil their aspirations to progress. Co-ordination amonq them continues to grow and is reflected in greater prosperity, stability and Progress in all parts of the industrialized world. Thus today we stand at the threshold of the twentv-fir st century readv to leave behind a centurv in which economic activi tv has qrown bv a factor of 10, the world's lX>Plllation has tripled and there have been fantastic technical achievements. At the threshold of the twen tv-first centurv, two thirds of the people of the world still suffer from JX>vertv, and their future seetiB bleak, while the other third luxuriate in excessive prosperity and abundance. But whether rid\ or poor, developed or underdeveloped, we are all faced with the threat of a common danger. The most serious threat to humanity as vet is this acute contradiction\ maximum proqress and prosperity on the one hand, and misery, suffering and backwardness on the other. The impact of this contradiction grows more intense with the increasing domination in international economic relations. It is manifested in the imbalance in international economic relations, and it belies the imProving POlitical climate. How can we disreqard the link between those two interrelated areas? While it would be unethical to confine the causes to that relationship, it would be intellectually unfair to iqnore or denv its existence. The Third Extraordinary Session of Heads of State and Government of the Organization of African Unitv COAU) unanbiguouslv hiqhliqhted that link in its Declaration, which states: JVM/29 A/S-18/PV.8 138 (Mr. Treiki, Libyan Arab Jamah iri val "We would like to recall that the economic backwardness witnessed by our continent today is onlv a direct result of colonialism, whose vestiqes have 
**Analysis**
The text discusses the economic situation of the world, highlighting the contrast between the wealthy and the poor, and the threat of economic imbalance to humanity. It also touches on the historical roots of economic backwardness, specifically colonialism. These themes suggest that the text is primarily concerned with economic development and its implications.

**Category**
Economic development, International trade