Description
The Future of Global Trade in the Context of Digital Transformation: A Mixed-Methods Study
Abstract
In the modern era, digitalization has a significant impact on various sectors and industries. The global trade in context of digital transformation is explored in the study. It can make enhancements in global connectivity and explore innovations with competitiveness across the market. The study also shows that with a lack of digital infrastructure and maintenance, it is difficult to maintain cross-border connections. Moreover, It can enhance the roles of government and manage transactions globally. As there is the rise of many e-commerce businesses and innovations it can provide a new route. SMEs find them as a new way of reaching international customers. Generally, the promotion of digital trades enhances global supply chain management and improves efficiency.
The successful context of digital transformation leads to an increase in the adoption of various technologies such as blockchain, artificial intelligence, and cloud computing. There are also challenges related to the cost of transactions and technological barriers. Hence, companies and businesses should engage in global transformations and make changes to enhance opportunities in the long term. It mainly helps small-scale enterprises to better connect. There is also an increase in the complexity of international transactions and challenges regarding the market.
There is a growing provision in the agreements regarding trade and agreements. Moreover, global strategies and technological advancements are developed with the help of enhancing policy discussions. The study also recommends that digital transformation leads to a sustainable future and global standardization. Technological advancements and advanced tools can enhance the speed of transactions and efficiency. The future context of digital transformation will depend upon security and innovation.
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