text: developed, developing and centrally planned economies, as well as for \,rorld trade, far below the rates observed during the post-war period up to the early 1970s. fn addition, many organizations consider thaC even these projections are not to be seen as predictions about the future but rather as indications of the domestic and international policy challenges that have to be faced if any reasonable degree of growth, stability and economic and social development is to be achieved. 13. For the populatlons of many countries in the developing r.torld. the 1980s nay turn out to be - Hhatever alomestic effort is mobj.lized by lheir covernments - a decade of frustrated expectations and vrorsening standards unless present trends in the world econonlc environment are reversed. There is now recognition of the fact that a large number of the more vulnerable countries could experience not onLy economic stagnation but afso econonic and social decay involving a degree of human suffering and future nelfare losses not captured by economic statistics. Thus far. however, little consensus on the means t'o restore economic and social progress has emerged. 14. It is no!, generally acknowledged that economic and social development depends on (a) a complex set of interactions between human resources and institutional factors? (b) the efficiency, coherence and thrust of domestic policiesr and (c) the international environment. There has been much argument recently about the relative importance of the national and i.nternational aspects of the developmentprocess. Allhough not prominent in the responses Co the note verbale' the subject has claimed increasing attention in the general debates in international orqanizatlons, for instance at Che 1985 sumruer session of the Economic and Social Council. l.Ione the less, the distinction between the tr.ro aspects is easily exaggera ted , 15. In facC, changes in world economic conditions pose challenges to atl countries
analysis: The text appears to be discussing the challenges faced by developing countries in achieving economic and social development, and the need for a complex set of interactions between human resources, institutional factors, domestic policies, and the international environment. The text also touches on the impact of changes in world economic conditions on all countries, including those in the developing world.