What are the implications for world trade given the ability firms

and government organizations now have to communicate across borders so easily?

 

For the past many years, international trade has grown by many folds due to development of protocols for the transfer of documents. Protocols like the FTP, telnet, and EDI have helped much in growth and expansion of trade across the borders. In the recent past, the technological advances have played a major role in the international sales. Electronic data interchange, specifically has played important roles included business communication. These advances have also enabled the banks to make swift transactions globally, which has fostered international trade. They have enabled the transfer of bills, invoices and other documents at a fast rate and have supported international business.

Step-by-step explanation

In addition to this, its very important to communicate effectively in negotiations to ensure you achieve your goals. Communication is a key factor to consider within any business environment whether the your carrying your business locally of internationally. Therefore effective communication help a businessman to foster a good working relationship between a companies suppliers, customers and employees which can in turn improve morale and efficiency of the business.