Susan Lund, James Manyika, and Michael Spence124 μ£¥³¤ ¬μμ¬
Trade is becoming more concentrated in speciÃc regions, particu-
larly within Europe and Asia. That is partly the result o greater do-
mestic demand from emerging-market countries, but it is also being
driven by the increased importance o speed. Proximity to consumers
allows companies to respond faster to changing demand and new
trends. Many companies are creating regional supply chains near each
o their major markets. Adidas, for example, has built fully automated
“Speedfactories” to produce new shoes in Germany and the United
States rather than making them in its traditional locations in Indone-
sia. Zara has pioneered the “fast fashion” industry, refreshing its store
merchandise twice a week. More than hal o the company’s thousands
o suppliers are concentrated in Morocco, Portugal, Spain, and Tur-
key, where they can serve the European
and U.S. markets. Zara can get new de-
signs from the drawing board to a store
in Manhattan in just 25 days.
The growth o new technologies,
such as Internet connectivity and arti-
Ãcial intelligence (¬), are also changing trade patterns. From 2005 to
2017, the amount o data Áowing across borders every second grew by
a factor o 148. The availability o cheap, fast digital communication
has boosted trade. E-commerce platforms allow buyers and sellers to
Ãnd each other more easily. The Internet oÊ Things—everyday prod-
ucts with Internet connections—lets companies track shipments
around the world and monitor their supply chains.
Yet not all new technologies lead to more trade. Some, such as ro-
botics, automation, ¬, and 3-D printing, are changing the nature o
trade Áows but not boosting the overall amount o trade. Factories
have used robots for decades, but only for rote tasks. Now, techno-
logical advances, such as ¬-powered vision, language comprehension,
and Ãne motor skills, allow manufacturing robots to perform tasks
that were once out o their reach. They can assemble intricate compo-
nents and are starting to work with delicate materials, such as textiles.
The rise o automation means companies don’t have to worry as
much about the cost oÊ labor when choosing where to invest. In recent
decades, companies have sought out low-paid workers, even i that
meant building long, complex supply chains. That is no longer the
dominant model: today, only 18 percent o the overall trade in goods
involves exports from a low-wage country to a high-wage one. OtherTrade in services will take
up an ever-greater share of
the global economy.