text: andconstant scrutiny. Amongtheothermajorchanges inthe1990sareregional integration amongdeveloped market economies andseminal changes ineconomic structure andpolicies intheUnionofSovietSocialist Republics andthecountries ofEastern Europe. Problems ofdevelopment inlargeareasofthedeveloping world, afteradecadeofdecline, willremain paramount. Thisisespecially trueof Africa, LatinAmerica andpartsofAsiaandparticularly ofavastnumberofleast developed countries thathavebeenstagnating ataverylowlevelofpercapita income. Itwillbenecessary torespond tothoseproblems andtocontinue the national andinternational efforts torevive andmaintain thegrowth momentum in otherdeveloping regions. Thepromotion ofgrowth-oriented adjustment andother appropriate policies ofdevelopment andinternational co-operation isrequired in ordertominimize social andeconomic costsofadjustment andmaximize thegains thatthenewchallenges andopportunities offer, forthebenefit ofallcountries andgroups. 12.24 Thetaskofthesubprogramme istoproduce anoverall viewoftheeconomic problems oftheworld. Inanincreasingly interdependent worldandinan atmosphere whereeconomic variables changefast,predictability ofeventsis necessarily difficult, requiring frequent andrepeated examination ofcurrent developments thatcontain theseedoffuture trends. Thenecessity forexamination ofshort-term changes issuperimposed ontheneedforscrutiny oflonger-term issuesinthesocial andeconomic fields. Itisimportant thatshort-term developments notadversely affect development ofhumanandphysical capital, technological change andstructural transformation, thecontribution ofwomento thedevelopment process, andtheenvironment. 12.25 Theobjective ofthesubprogramme istoprovide theGeneral Assembly, the Economic andSocial Council andotherlegislative bodies withsystematic analysis andassessment ofcurrent global economic issues andtrends andoftheir interrelations andimplications forinternational andnational action. Theaimof accelerating development indeveloping countries inthecontext ofglobal economic expansion hasbecome acritical international issue, andeconomic trendsinthe 1990swillhavetobeassessed indepth. (b)Courseofaction oftheSecretariat 12.26 Analysis ofeconomic performance andofemerging social andeconomic issues andtrendswillcontinue atthegloballevelandatthelevelofcountry groups and willbeundertaken annually, asmid-year andend-year updates oftheannual assessments, andaspartofthereviewoftheinternational development strategy forthefourth United Nations development decade. 12.27 Theexamination ofmultilateral approaches -inparticular thetradeand financial regimes -willremain important toensure broad-based, sustained, non-inflationary growth intheworldeconomy intheyearsahead. -8-12.22Structural andpolitical changes havelately combined inaglobalization of worldmarkets thatcallsforacomprehensive viewoftheworldeconomy asawhole. Atthesametime,theneedtoenhance predictability hasemerged asanimportant globalissue,giving risetocallsforalarger measure ofinternational economic security. 12.23 Issues ofdevelopment andchange arebecoming morecomplex, requiring close andconstant scrutiny. Amongtheothermajorchanges inthe1990sareregional integration amongdeveloped market economies andseminal changes ineconomic structure andpolicies intheUnionofSovietSocialist Republics andthecountries ofEastern Europe. Problems ofdevelopment inlargeareasofthedeveloping world, afteradecadeofdecline, willremain paramount. Thisisespecially trueof Africa, LatinAmerica andpartsofAsiaandparticularly ofavastnumberofleast developed countries thathavebeenstagnating ataverylowlevelofpercapita income. Itwillbenecessary torespond tothoseproblems andtocontinue the national andinternational efforts torevive andmaintain thegrowth momentum in otherdeveloping regions. Thepromotion ofgrowth-oriented adjustment andother
analysis: This text appears to be focused on the global economy, discussing issues such as economic development, structural changes, and international cooperation. It highlights the importance of responding to economic problems in developing regions, promoting growth-oriented adjustment, and assessing global economic trends. The text also touches on the need for predictability and international economic security.