world standards of living have declined, in some cases with serious consequences. The factors which persisted during the 1980s and which tended to nullify growth and development - protectionism, crippling debt burdens, declining investment flows, extensive financial instability, rising environment damage - appear to have become even more entrenched. It was against this backdrop that the Group of 77 took the initiative to call for this special session to take stock of the experience of the past decade and to set a more effective foundation for the next. Clearly, frank and realistic appraisals are called for and the compact of co-operation between developed and developing countries needs renewal and reaffirmation. Lessons from the past show that increasing global integration and interdependence demand a strategy of shared goals and actions by developed and developing countries. A revitalized commitment to sharing, within the framework of a common future, is called for. Over recent months the social and political transformations which have overtaken Eastern Europe, southern Africa and Latin America have held the world spellbound. Already it is evident that the focus on the needs of developing countries could lessen because of the changes in Europe that will tend to preoccupy the financial and political attention of developed countries. We have been assured repeatedly that this will not be so. The proof will come over the next few months. Hr delegation hopes that the forces which could generate positive enhancement for international development will in fact result. However, some early warning signs are not propitious, as, for instance, the difficulties the African, JVM/ 5 A/S-18/PV.9 14-15 (Mr. Thompson, Fiji ) Caribbean and Pacific (ACP) countries have had over the Lome IV negotiations with the European Community, the more strinqent conditions for development assistance, the lack of attainment of the official development assistance tarqet of 
**Analysis**
The text discusses the decline of world standards of living, the persistence of negative factors such as protectionism and debt burdens, and the need for international cooperation to address these issues. It also mentions the importance of learning from the past and sharing resources within the framework of a common future. The text touches on the impact of changes in Eastern Europe, southern Africa, and Latin America on the focus on developing countries and the need for developed countries to maintain their commitment to international development.

**Category**
Economic development, International trade