text: international community as a whole for not havinq acted and risen to the historic challenqe posed to us by the present circumstances. The PRES !DENT: On behalf of the General Assembly, I wish to thank the Chairman of the Council of Ministers and Minister for Foreign Affairs of the Republic of Peru for the very important statement he has just made. Mr. Guillermo Larco Cox, Chairman of the Council of Ministers and Minister for Foreign Affairs of the Republic of Peru, was escorted from the rostrum. BCT/gt A/S-18/PV.3 18 AGENDA ITEMS 8 AND 9 (continued) GENERAL DEBATE Mr. OBMINSKY (Union of Soviet Socialist Republics) (interpretation from Russian): First, I warmly conqratulate Namibia as the one hundred and sixtieth Member of the United Nations. This event qives us hope that, with the help of the United Nations, other world problems can be effectively solved. This special session is beinq held at a time when world development is at a turninq point. It is as if mankind, havinq reqained consciousness at the very brink of the abyss, were tryinq to free itself from the chains of confrontation and were becominq aware of the inteqritv of today's world, which needs a new philosophy and a new policy. The cold war has been arrested. The threat of nuclear holocaust has receded. First steps have been taken towards real disarmament and the settlement of reqional conflicts. Dialogue is emerging as both the form and the norm of inter-State relations. Throughout the world discussions have started regardinq the possibilities of switchinq from a military-oriented economy to a peacetime economy, with the ensuinq peace dividends. It is often said these days that there is no peace dividend, that it has been swallowed up by the domestic needs of the USSR and the United States. Yet this seems to be a simplistic approach to the assessment of the disarmament 
analysis: The text discusses the current state of the world, highlighting the shift from a cold war era to a more peaceful and cooperative environment. It mentions disarmament, dialogue, and the potential for a peacetime economy, indicating a focus on international relations and global issues.