The UN partition plan that you refer to was based on the concept of an Arab-Israeli Economic Union, i.e. working together as two states of one country. The Israelis accepted the UN plan in its entirety BUT the Arabs rejected both the borders and the economic union that went with it. They chose instead to do their best to destroy the nascent Jewish state. The Arabs today continue to reject the UN / League of Nations / Balfour Declaration concept of a Jewish state.
Jordan foreign minister says to speak with Kerry on Israel-Palestinian conflict (Reuters)
from the article: Share the Temple Mount