For some decades in the United States of America, fair trade operated in the confines of small-scale buyer-seller relations with handicrafts most involved. However, as time went by, entrepreneurs in America began establishing fair partnerships and trade relationships more so with the southern producers formally incorporating a network, Fair Trade Association, which is a trade association that strengthened and promotes for ‘not just a trade relationship but a just trade relationship (O’Brien & Williams, 2013). Fair trade is more of a dynamic step towards alleviating poverty and empowering producers and laborers through ensuring some ethical and just trading between the consumers in the north and the producers in the south. Of age has come fair trade, and considerably it is the way to go if we are to see a more united America towards equity and poverty eradication. The more America engages in fair trade the more we will realize more revenue and circulation of finance towards more economic stability and improved living standards (Drezner, 2014)
Though there have been some teething shocks and struggles, the global economic governance structures have stood firm, quick in response and robust to the test of such challenges and time seeing more accolades of accomplishment in growing and mainstreaming fair trade to globally measures. Despite the financial crisis that have been, fair trade has out-muscled and tolerated all through to justice and fairness in trade reinforcing open trade and open economic policies which have much propelled fair trade (O’Brien & Williams, 2013). Though there have been misperceptions owing to the great recession and how it has affected the great economies, there is still a great promise for a better future in fair trade with the global economic governance still persistent and resilient to foster open, fair and just trade. Whichever negative consequences might have come with the introduction and growth of fair trade, we cannot assume and get skeptical of the economic and social benefits that have come courtesy of fair and just trade ().Doherty, Davies & Trenchell, 2013).
Doherty, B., Davies, I. A. and Trenchell, S., (2013). Where now for fair trade? Business History, 55 (2), pp. 161-189.
Daniel W. Drezner, (2014), The System Worked: Global Economic Governance during the Great Recession, Trustees of Princeton University.
Robert O’Brien & Marc Williams, (2013), Global Political Economy: Evolution and Dynamics, Palgrave Macmillan.