The global Fair Trade community has long recognized the critical nature of kindness & fairness; the potential in even the most disadvantaged family; the importance of transparency in our actions and transactions; and the need to treat each other as neighbors and as equals.

For us, these are the fundamentals of a healthy global community. Mr Obama, in his run for the Presidency of the USA, has reminded all of us of these important values and beliefs. Without them we'd be... where we are today.

So it is immensely satisfying to experience the support for these ideals expressed by all segments of our society in last night's historic election. There is no question that the under 20's, the under 30's and the under 45's have bought into this dream. They, plus many others of us, now own it and are committed to making it real.

An acquaintance of mine from the slums of Nairobi says: "We believe God has good things in mind for us just around the corner."

Today is indeed a new day for the world and for the World Fair Trade Organization. This election and the promise of strong, visionary, responsible global leadership, means promoting Fair Trade and creating market access for artisans and farmers will become easier and more attractive.

I am confident that we can make trading practice increasingly fair and sustainable, be that in medium or large businesses, or the World Trade Organization itself. Thank you President-elect Obama.

Though our commitment to Fair Trade as a solution to poor practice and environmental degradation has always been unflinching, today our hope of delivering that solution just got stronger.

Now it is time to get to work. The expectations of the millions of small disadvantaged producers are urgent. The optimism of yesterday has to transform the realities of tomorrow.

Paul Myers,
President, World Fair Trade Organization.

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Conventional wisdom is bearing vicous fruit.  

We should not be surprised. Regulatory matters have been severely diluted in the pursuit of wealth and power.

An example is short selling. Regulations set the ceiling at 12:1. Yet at the peak some were leveraging 37:1, a criminal offence with no penalty until, finally, the system collapsed last week. Accountability left the room some years before and no one batted an eyelid or raised their voice in concern.

We have become the "me first" generation, with little or no collective responsibility, weakened rules, scant accountability, no surprise the system fails and people lose confidence. Today the Financial Times announced “We are watching the disintegration of the financial system” on its front page but the truth is, it’s been going on for years, we just chose not to see it.

Of course, these crises weaken economic activity, markets and currency values, making it extremely difficult for the some members of the International Fair Trade Association to sustain sales, let alone strengthen them. "When the elephants play, the grass gets trampled."

The global bailout may even-out the risks over the coming weeks, or months, but it is too early to judge the true scale of this inevitable calamity. The $700bn down-payment may or may not be enough to see us through. But it could be enough to save the world’s fast disappearing Rainforest ($200bn) and score the Millennium Development Goals by 2015 ($500bn).

If we truly believe that Fair Trade is both sustainable and effective, then it is the solution to the world's financial crisis. And it is our job to let people know.

Paul Myers,
President, World Fair Trade Organization.

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