Globalism of the world economy poses daunting challenges for nations, prompting them to change their economic and legal structures and rethink their strategies vis-à-vis the rest of the world. Adaptation to these new demands is more difficult for less developed countries because of their weaker economies, their social, legal and economic structures, and entrenched ideas or local interests that are not always in tune with free trade, competition and open market policies. Local economic and social conditions require a more gradualist, or protectionist, approach and a more paused rhythm of implementation of liberalization policies. There is no universal dogma determining what degree of limitation on or delegation of national sovereign powers will best serve, or is required and integration strategies adopted by developing countries.
