"This book discusses the main strategies or options for small developing economics towards better integration into the world economy. They include membership of the World Trade Organization and unilateral economic liberalization. Another important strategy is regional integration among developing countries. Many small states also continue to rely heavily on special trade arrangements with industrial countries. Recently a lot of attention has been paid to quite a different strategy: North-South integration with reciprocal obligations. In practice, the strategies are not mutually exclusive, but must be combined into a coherent policy package for maximum advantage."--BOOK JACKET.