UN General Assembly
1999

trade and finance, globalization has invariably wrought havoc on small and weak economies, which can do precious little to withstand its impact. Economic and social misery have followed in its wake, exposing the 12 particular vulnerabilities of small developing countries, many of which are dependent on a single agricultural crop — like bananas or sugar — for the livelihood of their peoples. At the regional meetings which have been held thus far in preparation for the tenth session of the United Nations Conference on Trade and Development (UNCTAD X) caution has been sounded against the worst excesses of trade liberalization. Having benefited from the Tokyo and Uruguay Rounds, the industrialized countries are anxious to hold further negotiations — the mother of all rounds — for free trade in the next millennium. Theoretically, developing countries can also gain from increased liberalization. However, since they are for the most part too weak to take advantage of the new opportunities, they run the risk of greater marginalization and, indeed, elimination from the market place. Fear of this eventuality is based not on uninformed