Other commentators say that autocratic regimes are likelier to democratize if they are brought within the WTO fold. So much for the WTO's background, let's get started on the arguments. In this era of rapid globalization, we need an international organization to smooth and enhance trade relations. The WTO is the best instrument we have for that purpose. Between 1950 and 1998 global exports rose eighteen fold, and global output six and a half fold.
Globalization is a fact.
We should all attempt to get the most from it. In other words, the WTO encourages nations to liberalize their economies. They do this by removing trade quotas and subsidies to uncompetitive local industries, and by limiting public spending that leads to inflation and disproportionately affects the poor. Capitalism works best when unfettered markets set prices. Nations benefit from increasing their levels of international trade.