implications for the code debate's rationale. First, interdependent aucl integrating economic forces ·.require an overview comprehensive enough to match the global span of transnational economic processes and .impacts. Questions of international economic policy are now beginning :to be treated more as a· unified whole than in separated compartm ·entalized policy segments divided according to trade, investment and monetary issues. ·Transnational corporations, as the major organiznlional vehicle of this integration, are a central part of such policy· considerations. This reinforces , the need for an interna'tional framework that addresi::es t.hP. activities of these corporations. I ••• EiC, 10/1990/5 English Page 14 39. Secondly, there is urgent need to address the emerging economic ano geo-political pattern that threatens to split the world into two isolated economic blocs, Without conscious policy steps to ~ncourage economic linkages between developed and developing countries, the large majority of the world's population will be consigned to a politically unstable and ethically unacceptable state of permanent "underdevelopment". Again transnational corporations, as the primary vehicle for functional economic integration, can play a constructive linking role, if guided within an appropriate international framework. To be fully effective, such a framework would have to address both governmental and private sector responsibili ties in the international economic system, a principle that is already in the United Nations code. 40. Finally, many of the challenging new problems emerging in the i11ter11atio11al arena are truly transnational in character, both in terms of their impact and the manner in which they must be managed. An obvious example is protection of the environment, which is not divisible territorially since pollution of the air or oceans can quickly spread beyond political boundaries, requiring a co-operative international approach. Worker and product health, safety and quality standards raise other common international issues, especially since products and services are 
**Analysis**
The text discusses the implications of transnational economic processes and the role of transnational corporations in shaping international economic policy. It highlights the need for an international framework to address the activities of these corporations and ensure economic linkages between developed and developing countries. The text also touches on the challenges posed by transnational issues such as environmental protection and worker safety, which require a cooperative international approach.

**Category**
Economic development, International trade