Global Trade Landscape Shifts: Emerging Economies Lose Dominance, Digitalization Transforms Transactions
The article discusses how international trade has changed over the years. It talks about factors like economic growth in developing countries, global value chains, and trade liberalization. Recently, global trade growth has slowed down compared to the world's overall economic growth. There is also a decrease in trade through global value chains due to economic and technological changes. The trend of developing countries having a larger share in trade is no longer increasing. The rise of digital technology and the fourth industrial revolution will greatly impact international trade, making it more integrated into national economies and less about trading between countries.