Is free trade fair trade?

What are the differences between Free-Trade and Fair-Trade? And, is it suitable to address concerns about resource and global food security.

  • In response to the 2008 financial crisis, the member countries of APEC formed a Free-Trade zone in the Asia-Pacific region; even the Southeast Asian countries formed a OPEC-like cartel for grain. Now, China has set up a 30 million dollar trust fund for supporting agricultural products in Africa. What efforts, if any, has the US taken to push forward Free-Trade initiatives in the agricultural rich economies, as a way to reduce the rising cost in commodity food prices? If so, what are the challenges that the US must overcome to address those concerns in time for APEC 2011? Example of problem: South Korean Farmers Protest Against Free Trade Agreement with U.S. - There have been negative consequences to Free-Trade policies, and I do not understand what it is in practice. So, what are the advantages and disadvantages of both, Free-Trade or Fair-Trade. In other words, elucidating further details in regards to the terminology and its use would be greatly appreciated.

  • Answer:

    I think it is mutually beneficial to prospering economies. For example, under the ASEAN Free Trade agreements, China made a 6bil bilateral trade deal with Indonesia.

Fiona Smith at Quora Visit the source

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