Technological Advancements Revolutionize Global Trade, Reshape Economic Landscapes Worldwide
The study looked into how international trade works by analyzing a concept called "gravity modeling." They used a formula that considers factors like transportation costs, country relationships, and the types of goods being traded. The researchers also checked how advanced the technology is in the countries doing the trading. Results showed that technology levels have a big impact on how much countries trade with each other. This means that when one country is great at tech stuff, they tend to do more business with other tech-savvy nations. So, the better the tech, the more trade happens between countries.