This is because democracy offers citizens greater political stability, enhanced quality of living, greater individual liberty as well as freedom from any governmental violence.
By adopting capitalism, the citizens of less developed countries are able to benefit from the fact that capitalism tends to greatly promote competition and innovation. Capitalism can offer the citizens of less developed countries more choices as well as the very best opportunities that they can be able to use to improve their living standards. These factors are seen to the fostering of greater economic freedom.
Another key benefit of promoting capitalism in the less developed countries is that not only does capitalism foster competition, it also benefits these countries as it spurs the companies within them to innovate and develop far better products that will cause for there to be more goods and services in the market a factor that helps in keeping the prices of commodities at low levels.
Democratic political systems often tend to enjoy far greater prosperity over longer time periods as compared to other systems. As democracy spreads, more individuals in less developed countries are likely to start enjoying greater economic benefits. While authoritarian regimes are able to compile impressive short-run economic records, they are rarely able to sustain these rates of growth for long time ...
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‘The World Trade Organisation (WTO) and its predecessor the General Agreement on Tariffs and Trade (GATT) “was mainly established to promote international commerce without any barriers. It has been estimated that both the GATT and WTO have encouraged international trade and it has increased world imports about US3 trillion in 2000 alone or by about 44% It is claimed that WTO has been successful in trimming down the barriers to trade and especially in clothing ,textiles, and agricultural sectors .
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