How does digital technology facilitate international trade? 🔊
Digital technology facilitates international trade by streamlining processes, reducing barriers, and enhancing communication. E-commerce platforms allow businesses to reach global markets easily, providing access to customers worldwide. Technologies such as blockchain ensure secure and transparent transactions, building trust among cross-border traders. Additionally, online payment systems simplify monetary transactions, making it easier for businesses to conduct international sales. Digital tools also enable better supply chain management and logistics, leading to increased efficiency and lower costs in the global trade landscape.
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