How do technology advancements influence global trade? 🔊
Technology advancements influence global trade by streamlining processes and enhancing efficiency. Innovations such as e-commerce, automated supply chains, and blockchain facilitate faster, more transparent transactions. Digital platforms enable businesses to reach international markets, expand customer bases, and reduce barriers to entry. However, technology also presents challenges like the need for cybersecurity, compliance with international regulations, and managing fast-paced changes in market demands. Adapting to these advancements is essential for maintaining competitiveness in a globalized economy.
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