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Advantages of Technology in Internation Trade

Advantages of Technology in Internation Trade - Advantages...

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Advantages of Technology in Internation 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 States increasing exports and increasing efficiency through competition.
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