Question

Using what you have learned, describe the effect of communications technology on globalization.

Be sure to mention how communications technology affects trade

Answer 1

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.

Answer 2

Sample Response:

Step-by-step explanation:

As the data shows, the number of people with access to cell phones, computers, and the Internet has increased dramatically in the last five years. This has increased the speed of globalization, as more countries are able to do business in countries around the world, even in developing nations. More people buy goods manufactured in foreign lands, and more people are using the Internet to order goods and services. E-commerce has increased dramatically. In China, for example, it has tripled since 2012.