thinking in the third world anticipated and promoted the present convergence of economic concepts we are witnessing today. As we witness the thrust towards democratization and the growth of participatory politics in Eastern Europe, it is imperative that the gains in the realm of socio-economic equalization be protected and improved upon JSM/bg A/S-18/PV. 9 66 (Mr. Maksoud, League of Arab States ) Thirdly, it is of utmost urgency that while political enfranchisement is being enhanced in the northern part of the globe, no economic disenfranchisement persists in the southern part. The propensity for freer markets in emerging economic systems should be insulated from the temptations of looseness that were associated with the exploitative aspects of untutored capitalism. Fourthly, it is our belief that in most developing societies the public sector must remain in its regulating but not controlling functions. The optimal balance between the individual and society must remain a determining guiding force. As we ought to avoid too much government, we must also avoid too much privatization. In this respect, too, public sectors thirst for control, which led to mismanagement and excessive bureaucratization, which must be thwarted. The need for the public sector in developing societies to inject constraints on coercion, abuse of power and elitism, remains uppermost in the plans of their leadership. The balance to which we refer is required to prevent freedom from being associated with looseness and equality with coercion. If this is our broad conceptual framework, let me spell out very briefly and in concrete terms the problems that we face and the expectations we seek to realize. First, we in the Arab nation are a rich nation of poor people. We are aware that while our proven resources of oil will increase in the next decade, we will 
**Analysis**
The text discusses the importance of balancing economic concepts, such as democratization, participatory politics, and public sector regulation, to ensure socio-economic equalization and prevent economic disenfranchisement in developing societies. It highlights the need for a balanced approach between individual freedom and societal constraints, and mentions the specific context of the Arab nation's oil resources. This suggests that the text is primarily focused on economic development and its implications for social welfare.

**Category**
Economic development, International trade