28. Dramatic change of economic conditions is inevitable in a growing world economy. For the next generation or so, the international community will live through a transition that exceeds historical experience. Some facets of that transition are already evident; others are only beginning to be understood. One stems from the impact of the demographic momentum now experienced by the world, which is not expected to stabilize until well into the middle of the next century. This momentum will make enormous demands on the provision of physical and social infrastructure and the creation of jobs. 29. A second aspect is the ecological impact of economic activity. Here the concerns range from such global issues as atmospheric accumulation of carbon dioxide and the effects of acid precipitation, to the degradation of local environments, such as the depletion of soils, forests, sources of fresh water and non-commercial fuels. 30. But the issue to which Governments are likely to pay closest attention, because it will most directly affect their daily concerns, is the transformation now under way in the world's industrial and financial structure. A new technological complex has evolved, primarily in the areas of information and communication. Deep sectoral shifts are under way in many economies, in part as a result of the diffusion of those new technologies. Above all, the international financial markets have been transformed beyond recognition as enormous flows move among financial centres in instant response to changing perceptions of their economic prospects and safety. 31. What are the implications of those changes for multilateralism? There is a widespread anxiety on the part of Governments that their economies will be left behind by this transformation, that a new niche which is open for them at one brief period may not be available at some future point in time. Some countries may lack 
**Analysis**
The text discusses the major changes that the world economy is undergoing, including demographic shifts, ecological impacts, and transformations in industrial and financial structures. It highlights the concerns of governments about being left behind by these changes and the need to adapt to a new technological complex. The text's focus on the global economy, technological advancements, and government concerns suggests that it is primarily related to economic development and international trade.

**Category**
Economic development, International trade