International trade development trends in the conditions of modern globalization

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Ivane Javakhishvili Tbilisi State University Press
International trade should be discussed in the context of new trends in globalization, which essentially changes its content. The most important factor, which influences international trade, is scientific-technical revolution. The single most important factor that affects trade is the scientific-technical revolution, which is also one of the causes of globalization. The scientific-technical revolution has also resulted in information & knowledge to become a matter of bargain and sale – as the major part of the product pricing is dependant on the volume of innovations and research. International trade flows of scientific products are constantly increasing. As a result of globalization, more emphasis is placed on the use of internet technologies in international trade, which is taking trade online. New trends in trade also causes changes in international payment systems. Bitcoin is becoming popular payment method globally; e-commerce is forming the market in a new ways. The development of „e-commerce ecosystem” will lead to the creation the code of ethics and new agreements for online trade – for international organizations, particularly for the World Trade Organization, and for large internet sellers. We should discuss international trade on new levels under these conditions, where its traditional forms are changing with new online trade.
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International trade, Online shopping, Globalization, Scientific and technical progress, Innovations, Interliberalization
The 4th International Scientific Conference: "Challenges of Globalization in Economics and Business", Tbilisi, 2019, pp. 31-35