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 influence. For instance, the International Monetary Fund, The World Bank, OECD and the World Trade Organization that aims at re-shaping the democratic politics within societies. On the other hand, neo-liberalism involves little more than an informal set of policy adjustments within modes of regulation and welfare regimes in capitalist societies that remain basically neo-static, neo- corporatist or otherwise non-liberal in character (Christoff & Robyn, 101).
With these issues in mind, let us now focus on the activities of the World Trade Organization in order to describe its effects on society’s democratic politics. Over the years, the World Trade Organization has engaged in helping member states to settle disputes under the rules they all agreed upon. Annually, the World Trade Organization Public Forum represents the most significant opportunity for its members to tap into a large pool of ideas from the public at large on these issues confronting the multilateral trading system (Christoff & Robyn, 101).
This has seen the significant increase in the number of participants from across the globe which testifies the relevance of the World Trade Organization to the wider world. The activities of the World Trade Organization...