Fair Trade Vs Free Trade

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  • Created by: Amy_Hut
  • Created on: 21-03-21 16:18
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  • Fair Trade Vs Free Trade
    • Fair trade
      • Mainly focused on agricultural products but some goods like minerals & handicrafts included
    • Free trade
      • Main goal = To increase nations' economic growth
      • Focuses on trade policies between countries
      • Key advocates = WTO, World Bank, IMF
      • Benefits multinational corporations & powerful business interests
      • Many parties between producer and consumers
    • World trade in bananas
      • Power & control of food production has shifted away from growers and towards retailers in HICs
        • More ethical, sustainable consumer markets are growing but quite slowly
          • Only happens in places that can afford products at higher prices
  • International fair trade organisations put producers into co-operatives
    • To combine produce
      • Gives more influence in market & power to negotiate better deals with buyers
    • Fair trade
      • Mainly focused on agricultural products but some goods like minerals & handicrafts included
  • Alternative trading groups
    • Retailers who buy directly from suppliers not producers
      • Still labelled fair trade
  • Most are major growing regions eating own produce not exporting
    • E.g., India
    • Banana consumers
      • East Asia, North, Central & South America, Central Africa
  • In past 80% of banana trade was dominated by 4 TNCs
    • 3 from US and 1 from Ireland
    • TNCs have large element of control of markets & can influence political decisions
      • World trade in bananas
        • Power & control of food production has shifted away from growers and towards retailers in HICs
          • More ethical, sustainable consumer markets are growing but quite slowly
            • Only happens in places that can afford products at higher prices
      • Supermarket price wars may actually decide where/how food is produced
  • Most grown on large monoculture plantations
    • Remainder is produced on small-scale family farms
    • Controlled by TNCS
    • Philippines, Central America, Caribbean, West Africa

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