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Perspectives and Principles: Free Trade

Perspectives and Principles: Free Trade. Mechanics The predominant approach to international trade. Trade between nations that is conducted on free market principles, without tariffs, import quotas or other restrictive regulations

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Perspectives and Principles: Free Trade

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  1. Perspectives and Principles: Free Trade • Mechanics • The predominant approach to international trade. • Trade between nations that is conducted on free market principles, without tariffs, import quotas or other restrictive regulations • Prices and quantities of all goods and services, investment money and workers traded between countries are determined by market forces of supply and demand • Chief Advocates • WTO, International Institutions, Corporations, Countries • Chief Tools of Change • Trade Theories, Regulations, and Global Commerce

  2. Perspectives and Principles: Fair Trade • Mechanics • An alternative approach to conventional international trade. • Trade that aspires to pay a fair price to the people who make the products • A trading partnership that aims at sustainable development for excluded and disadvantaged producers. • Stress minimum prices; credit availability; and stable, long-term business relationships directly with farmer cooperatives, avoiding intermediaries or middlemen • Advocates a world of more just trading conditions, achieved by raising awareness through active campaigning • Chief Advocates • NGOs, Transnational Activist Networks, Champions of New Ideals • Chief Tools of Change • Ideal, Ideas, and Value

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