text: launching meaningful and relevant work in the years ahead. BHS/JK A/S-18/PV. 2 6 (Mr. Collins, Ireland) I want now to look back briefly oo the key development issues which emerqed in the period of the 1980s. On the basis of this review, I shall attempt to set out the thinking of the Twelve ~ the overall tasks facing developed and developinq countries alike in the 1990s. In looking back over the past decade, we see that economic performance by developed and developing countries was mixed. For the developed countries, following a period of rigorous adjustment to take account of the new economic situation resulting from the two oil crises, sustained economic growth was restored. In particular, the inflationary pressures of the late 1970s and early 1980s were curbed. As a result of the economic policies followed, real increases in living standards were achieved. A technological revolution held out increasing prospects of ever more innovative and wealth creating systems of economic management. Moves towards globalization of international markets brought about significant efficiency and other gains. Nevertheless, certain negative elements in the performance of the developed countries remained. Unemployment in many developed countries remained at unacceptably high levels. Siqnificant economic imbalances in some of the major industrialized countries continued to exist. In addition, the consumption and production patterns of the industrialized countries continued to threaten our common environment. It was increasingly recognized that effective action was required on a qlobal basis to combat environmental degradation. , For the developing countries, the experience of the 1980s varied widely. The decade served to underline the very significant diversity in their performance, thereby highlighting the critical differences in the development challenges thev individually faced and in their responses to them. For some of these countries, owing mainly to their own skilled and committed effort, the decade saw 
analysis: The text primarily discusses economic development, highlighting the performance of developed and developing countries in the 1980s. It touches on issues related to economic growth, inflation, unemployment, and environmental degradation. The text also mentions technological advancements and globalization, which are relevant to economic development. While it briefly mentions environmental concerns, the focus is more on the economic aspects rather than natural resources and environment.