are moving towards a world economy nCM that our societies have become so interdependent, linked as they are by commercial, economic and financial ties and brought closer by the rapid flow of inforna tion which makes distance negligible. Because of this interdependence there is more give-and-take at the bargaining table, and advantages and disadvantages can be more easily traded off. All this provides greater scope for political action, enhances its capacity to arrange or rearrange priori ties and makes it easier to resolve any possible contradictions between such factors as emigration and development, or between indebtedness and environment. As I see it, there are three major imbalances overshadowing the new decade which will somehow have to be kept under control. First of all there is the demographic imbalance. The demographic time bonb is threatening to explode in a world already devastated by overpopulation. Demographic growth rates in some countries remain extremely high, so much so that JVM/8 A/S-18/PV. 3 32 (Mr. De Michelis, Italy) it is difficult to improve 1 iving standards even where economic growth is satisfactory. The consequences are all too apparent: malnutrition and unemployment are reducing productivity; population pressures are leading to excessive soil use and the degradation of the agricultural and environmental heritage, while the increasing exodus from rural areas is aggravating the problem of urban sprawl. The number of countries with effective demographic policies is still too small. Appropriate initiatives t.o control these phenomena could help to contain the spread of poverty and facilitate efforts to revitalize the economy. The second imbalance to overcome is the environmental one. Here, in particular, a broad international consensus is needed on the basic principles to follow if we are to arrive at a true international environmental law through the type of process already successfully employed in other areas, such as the law of 
**Analysis**
The text discusses the interconnectedness of the world economy and the need for international cooperation to address pressing global issues. It highlights two major imbalances: demographic and environmental, which have far-reaching consequences for economic development, poverty, and the environment. The text also touches on the need for effective policies and international agreements to mitigate these imbalances.

**Category**
Economic development, Natural resources and environment