among others, we have all hailed and encouraged the steps taken along the road of disarmament. We have concluded that the peace dividend could become the financial source that will nake it possible to begin to change existing injustices and narrow the socio-economic gap between countries. We are therefore concerned that we now hear murmurings as to whether a peace dividend reallY exists and whether, if it does exist, it will be used for some other, verv different, purpose. The Peace dividend could at least partiallY be oonverted into a fund for disarmament for lRH/29 A/S-18/PV.6 139-140 (Mr. Ayala Lasso, Ecuador) development, designed for co-operaticn in the solution of the problems of acute P<>verty that affect the developing countries. We noted with great satisfacticn the statement made by some developed countries to the effect that the expansion of their aid to Eastern Europe would not affect, qualitatively or quantitatively, economic co-operation for the benefit of 1the developing countries. Easily identifiable practical measures should hear out the obectiveness of that statement. It is often said that development presupposes structural change or the adoption of adjustment measures by the develoPing countries. There is no cbuht that in many regions of the world there is a need to nodernize existing svstems, but let us not forqet that economic adjustments have a high social cost, and that pocr nations are cominq close to the limits of the credihili tv of those changes and, what is worse, the limits of their capacity to continue sacrificing their elementary aspirations and denying satisfaction of their elementary needs. JP/dl A/S-18/PV. 6 141 (Mr. Ayala Lasso, Ecuador) The economic policies of the main industrialized countries, particularly their fiscal, monetary and trade rolicies, have had a neqative impact on the economies of the developinq countries. The hardeninq of international financial markets, 
**Analysis**
The text appears to be discussing the relationship between disarmament and economic development, specifically the potential for a "peace dividend" to be used to address socio-economic inequalities between countries. It also touches on the impact of economic policies of industrialized countries on developing countries. The text does not appear to be focused on any specific sector or industry, but rather on the broader issue of economic development and international cooperation.

**Category**
Economic development, International trade