Over the years, the World Trade Organization (WTO) has prided itself as the central element in the international economic management system across the world. This system incorporates other international bodies such as the World Bank, the International Monetary Fund as well as a series of other regional trade regimes that are growing. Collectively, these structures provide a mechanism that addresses international economic interdependence as well enhancing economic interactions that offer the promise of maximizing social welfare across the globe. These aspects have been brought about due to the focus given in the post-Cold War era where international relations have evolved beyond a narrow emphasis on politico-military affairs. I believe the term security today is brought about by a set of economic issues and other variables that are combined to reflect a general diminishment of the threat to war.
This paper will focus on elucidating the issue whether the creation of the World Trade Organization enhances or detracts from societies democratic politics. This will be brought out by emphasizing on the neo-liberalism approach that will help analyze the effects of World Trade Organization on the democratic politics within the society. It will discuss different perspectives that have occurred over the issue and part of it will take a comprehensive side regarding the issue.
To start with, neo-liberalism entails varying forms and objectives where it’s most ambitious part involves trying to effect a transition from authoritarian state socialism to liberal market capitalism. This incorporates radical experiments that were promoted by the Reagan and Thatcher governments and some key international institutions under neo-liberal infl...
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