text: been achieved on new agenda items of primary interest to the industrialized countries. That is why there have recently been calls to replace an ineffective General Agreement on Tariffs and Trade (GA.TT) with a new multilateral organization better designed to regulate international trade. The globalization of international problems also includes the environment. The world's ecology is not a concern only of industrialized nations. nor is its protection the sole responsibility of the developing worldr it is a comnnn interest, which can be compatible with development only to the extent that each nation meets its own obligations. The 1992 United Nations Conference on Environment and Development will give an important opportunity to make specific commitments and provide additional resources in order to make progress on both the global and the national aspects of the environment. Our external debt continues to be an obstacle to economic growth. The negative net transfer of resources represents a constant drain a1 our besieged JP/sm A/S-18/PV.2 22 (Mr. lbzental, Mexico) economies. There has been significant progress on the problem, but nuch remains to be done. It is clear that there is m::>re than one alternative and that other options have to be based on the reduction of principal and interest, reactivation of commercial bank flows, creditor Government flexibility towards the provision of fresh ooney and increased financing by international lending institutions. All of that depends to a large extent on creditor countries' facilitating regulatory changes to ease the restrictions on the private banking sector and approval of new resources for multilateral institutions to renew the financial transfers needed to stimulate savings and productive investment in the developing economies. Recent events in Eastern Europe represent changes which will have a great impact on the traditional pattern of international relations. Mexico has clearly warned that the transformation of Eastern Europe must not lead the industrialized 
analysis: The text discusses various global issues, including international trade, economic growth, environment, and debt. It highlights the need for a new multilateral organization to regulate international trade, and emphasizes the importance of addressing the environmental and debt crises. The text also touches on the impact of changes in Eastern Europe on international relations.