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Globalization has thrived on the growth and development in the areas of transportation, energy, and communications growth. Our highways, bridges, airports, and seaports have become the skeletal system on which globalization keeps running. Electricity grids, oil and gas pipelines, power plants, and refineries, and the energy sector, in general, represent the vascular system.
This is then complemented by advanced communications systems such as satellites, internet cables, and data centers that have made it seamlessly simple to pass information across international barriers. Here at BYEXPRESS Worldwide, we’ve been a player in this development and have seen the change happen right before our eyes.
Have we reached the peak?
But now, the idea that we’ve reached a point of peak globalization has started gaining popularity in recent times. According to the IMF, global trade volumes have enjoyed unprecedented growth up until when it stalled in 2012. According to some analysts, the global economy is approaching a lengthy period of decline.
Pessimists believe the growing protectionism and economic nationalism in the developed world, coupled with the recent advances in 3D and 4D printing is the driving force of this decline. Well, that’s certainly one way to view the current developments but here at BYEXPRESS Worldwide, we believe the world is even poised to witness another era of growth.
What if we’re on the verge of a new era of growth?
At BYEXPRESS Worldwide, our view of these recent developments is majorly an optimistic one. We may be set to witness a period of new growth, synchronized growth especially in the countries where protectionism is not in the mix. Again, we’re set to witness better cross-border flows with the emergence of more connections and network as far as global production and supply chain are both concerned. The ubiquitous data collection and advanced analytics of today will go a long way to increase operational efficiency making it even easier to meet the needs and demands of global customers.
The global appetite for cross-border production and supply chain will drive this second era of global growth. How well a region or economy thrives will depend on how well-connected they are to the flow of global trade whether this is through digital or physical infrastructure. But then, global trade will continue to expand. The major beneficiaries will be those who position themselves to become more global in the coming era.
Bottom Line
Digital technologies such as the Internet of things and blockchain will increase supply chain and production efficiency. Additionally, they’ll take the complexity out of supply chain management making it easier to monitor the chain and pivot risks seamlessly across global boundaries.
Here at BYEXPRESS Worldwide, we don’t think the worldwide supply chain or the economy is set for long-term protraction. Rather, we hold the view that it’s just getting started for a new era of growth. Sincerely, there are more gains in pushing for global trade expansion than anything that we may think lies in shrinking or containing it.
BYEXPRESS Worldwide
We understand the importance of the global supply chain to the prosperity of the global economy. Our commitment and dedication to this growth have made BYEXPRESS Worldwide the largest marketplace connecting businesses as well as global importers and exporters to credible air and ocean logistics provider.
You can easily log on to our website at www.byexpressworldwide.com with the how, when, and what of your shipment to get free quotes at competitive rates from multiple carriers. This is your opportunity if you’re looking for exceptional cost-efficiency and value for your supply chain. You can also contact us at info@byexpressworlwide.com for additional information.
