How technology is changing trading tactics.

The effects of technology are relatively creating immense transformations in the way companies organize production, trade goods hence greater interdependence among firms and nations.

I must say its quite paramount both for developed countries and developing countries for technology progress. Advancement in technology has enabled countries to be competitive in the global/world market. Such progress has helped countries to develop the economy and strengthen economy positions in the competitive global market hence big ups to new technology.

"This is a fantastic time to be entering the business world, because business is going to change more in the next 10 years than it has been in the last 50. (Bill Gates)"

According to the WTO, digital technologies will affect the composition of trade by increasing the services component, fostering trade in certain goods such as time-sensitive products, changing patterns of comparative advantage and affecting the complexity and length of global value chains.