The Cyber Revolution’s Effects on International Trade
Digital transformation is altering many of the old trading business models and enabled the creation of entirely new ones. Today every international transaction requires a data flow across national borders and some electronic versions of products and services now are competing with physically embodied versions and these changes include the replacements of some jobs by electronics.
Digital technology is wide open to inappropriate use by some governments, commercial operators and by criminals too. This has affected international trade. According to a recent report by the Organisation for Economic Co-operation and Development, (OECD) trade in counterfeit and pirated goods has risen steadily, and now stands at $509 billion a year. As with previous Industrial Revolutions some governments and corporates are really benefiting.