What has been the net effect of the World Trade Organization,the International Monetary Fund,and the World Bank on the world's democracies?
A) protectionist trade policies among the democracies
B) the creation of a democratic deficit
C) more democratic nations worldwide
D) a balanced and diverse economy among the democracies

Question

Quizplus · Accepted Answer

The World Trade Organization, the International Monetary Fund, and the World Bank have been criticized for creating a "democratic deficit." This term refers to a situation where decisions made by these international institutions can significantly impact the policies and economies of member states, often without direct accountability to the citizens of those states. Critics argue that this can undermine the sovereignty and democratic processes of nations by prioritizing global economic policies over local democratic preferences.

What Has Been the Net Effect of the World Trade