![]() Have become increasingly integrated in global supply chains. Manufacturing plants are located in developing countries that, in turn, The parts and components that make up the final product canīe manufactured in different locations around the globe. Policies have both democratized trade and made it easier to “unbundle” Thus, technological innovations and changes in trade and investment Per cent of world exports, about double their share in the early 1960s. In particular, developing countries now account for 36 Have also broadened the number of countries participating in global ![]() These changes in economic policies have not only facilitated trade, they Prohibited trade have either been eliminated or reduced significantly. Have opened up their trade regimes unilaterally, bilaterally, Trade and to coordinate production of parts and components of a finalĪ second factor is more open trade and investment policies. The information technology revolution has made it easier to Transportation, thereby expanding the range and volume of goods that are Half of the 20th century, the introduction of the jet engine andĬontainerization significantly reduced the cost of air and maritime ![]() Reduced the cost of transportation and communications. Foremost is technological change, which has considerably A number of factors have given rise to this spectacular expansion in
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