I. Introduction
In a 2014 Nielsen report documenting the global ethical goods market, fifty-five percent of global online consumers across 60 countries displayed interest in paying more for products and services provided by companies that are committed to positive social and environmental impact. “The propensity to buy socially responsible brands is strongest in Asia-Pacific (64%), Latin America (63%) and Middle East/Africa (63%). The numbers for North America and Europe are 42 and 40 percent respectively.” (Nielsen). While such figures exhibit buoyancy for the future of consumerism, the 2008 global recession saw an acute drop in demand for ethical consumption in the Global North. Studies conducted by numerous institutions have demonstrated that when purchasing, consumers are more price sensitive than morally conscious. Specifically apparent in the apparel industry, firms dedicated to practicing ethical production and value chains are often compact in size and financially inaccessible for mainstream consumers. In the global market, ethical consumption is a luxury, the notion of voting with your dollar is reserved for those who can afford to. The democratization of the ethical goods market and the practice of ethical production calls for a radical shift in the conventional approach of perceiving and accomplishing sustainability. In particular, collaboration between industries, sectors, and nations is fundamental to the cultivation and regulation of global ethicality for the long-term. This collaboration is exceptionally contingent on global geopolitics, primarily relations between key players of the Global North and South accompanied by their domestic objectives. The recent social and economic development of China, a phenomenon that has raised millions out of poverty, has allowed for the country to attain its status as a political powerhouse while reshaping the global economy. As China prepares and attempts to enter into a new era of economic development, characteristics and conditions unique to the nation allows for China to display an appreciable potential for the democratization and future of ethical production.
II. - VI. Analysis
VI. Recommendation
VIII. Conclusion
In the midst of an economic transition, the world’s second largest economy is undergoing an era that may possibly change the future of ethicality domestically and globally. To achieve that, the central government will need to harness yet not abuse its state-regulated power in responding to short-term temptations, guiding its 1.4 billion citizens, formulating a radical approach to develop for the long-term, and leading the world with its unique abilities.
China is a land of endless opportunities. In spite of environmental and social constraints, the potential for an underdeveloped CSR infrastructure within the leading economy is inspiring. China has the possibility of redefining the notion of ethical production and vice versa.