Advantages of Technology in International Trade
Technology plays a major role in international trade. Databases,
overnight delivery and faxes have opened the world market to not only larger
companies but small ones too. To add to this globalization, companies and even
competitors are combining and forming alliances to cut cost and increase the
profit margin. Chrysler, General Motors and Ford have formed an alliance in
research and development to avoid duplication. These alliances are not only
with domestic companies but they also go over national lines. Companies are
pushing for integration of the world economy in hope for increased profits and
governments are beginning to listen.
Since 1986 (GATT) General Agreement on Tariffs and Trade have taken the
incitive to move towards the liberalization of international trade. GATT
members agreed to reduce tariff and non-tariff trade barriers. From 1986 to the
present due to GATT's lead many markets have been open to the United......
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