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Fair Trade
The supporters of fair trade think that "trade" should not only cater to the interests of transnational companies and capitalists, but also incorporate concepts such as human rights, a minimum living standard for workers, and environmental protection. Fair trade emphasizes the following three aspects:
1. The mutually beneficial partnership between the consumer, the intermediary and the producer during the trade process;
2. The reasonable procurement price necessary for maintaining the producer's livelihood; and
3. The sustainable environmental protection efforts to ensure that the environment and ecology where the producer lives, will not be damaged for the sake of economic production.
As an alternative mode of trade, "fair trade" is still in doubt in many respects, e.g., acceptance by consumers, the scale of trade being too small, etc. However, the advocacy of "fair trade" has helped people understand that trade is an economic activity involving not only returns, but also human rights, equity, environmental protection and living standards. With these concepts in mind, people will require international trade today to take into account the issues of fairness and equity.
Related concept:
Transnational Companies
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