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IncollaborationwiththeMinistryofForeignTradeoftheUnitedArabEmiratesandAbu
DhabiDepartmentofEconomicDevelopment
TheTradeTechParadox:
ConnectivityAmidFragmentation
INSIGHTREPORTJANUARY2026
Images:AdobeStock,Midjourney,StudioMiko.
Contents
Foreword3
Executivesummary4
Introduction5
1
Thetradestack6
1.1Globalfoundationalframework7
1.2Nationalgovernancelayer8
1.3Tradeenablerlayer8
1.4Enterpriselayer9
1.5Interactionsbetweenlayers9
2
Thetradetechstack10
2.1Single-layerconnections:innovationswithinlayers11
2.3Multi-layerconnections–bridginglayers17
3
Beyondthetech22
3.1Inter-governmentalcollaboration23
3.2Connectorcountries25
3.3Cross-layerpartnerships26
3.4Datainfrastructure27
3.5Humancapacity28
3.6Ethics29
4
Strategicforesightstresstest:exploringtheresilience30
oftradetechnologiesinachangingworld
Conclusion34
Contributors35
Endnotes37
Disclaimer
Thisdocumentispublishedbythe
WorldEconomicForumasacontributiontoaproject,insightareaorinteraction.
Thefindings,interpretationsand
conclusionsexpressedhereinarearesultofacollaborativeprocessfacilitatedand
endorsedbytheWorldEconomicForumbutwhoseresultsdonotnecessarily
representtheviewsoftheWorldEconomicForum,northeentiretyofitsMembers,
Partnersorotherstakeholders.
?2026WorldEconomicForum.Allrightsreserved.Nopartofthispublicationmaybereproducedortransmittedinanyformorbyanymeans,includingphotocopyingandrecording,orbyanyinformation
storageandretrievalsystem.
TheTradeTechParadox:ConnectivityAmidFragmentation2
TheTradeTechParadox:ConnectivityAmidFragmentation3
January2026
TheTradeTechParadox:
ConnectivityAmidFragmentation
Foreword
B?rgeBrende
PresidentandChiefExecutiveOfficer,WorldEconomicForum
ThanibinAhmedAlZeyoudi
MinisterofForeignTrade,
MinistryofForeignTradeofthe
UnitedArabEmirates
AhmedJasimAlZaabi
Chairman,AbuDhabiDepartmentofEconomicDevelopment
Theworldisenteringaperiodofprofound
transformationinglobaltrade.Shiftinggeopolitical
alignmentsandevolvingsupplypatternsare
reshapingglobalflows,redefininghoweconomies
connectandcompeteandredrawingthemapof
internationalcommerce.Tradetechnologyhas
emergedasasourceofstabilityandprogress,
reinforcingtrustandcontinuity,helpingglobalsupplychainsremainconnectedamidrapidchange.
Thisyear’sreportshowcasescatalyticefforts
designedtoresponsiblyscaleinnovations,includingtheTradeTechRegulatorySandbox,helping
technologysolutionsincreasetrustandefficiencyinglobaltrade.
Atthecoreofthisyear’sworkliesanewconceptuallens:thetradetechstack.Thisrevealshow
tradeislinkedacrossglobalinstitutions,national
regulators,enablersandenterprisesthrougha
single,integrateddigitalcontinuum.Withinthis
structure,technologyisnotaseparatecomponent,itfunctionsastheconnectiveinfrastructurethat
integrateseverylayer,ensuringthatcommerceremainsefficient,predictableandinclusive,eveninchallengingtimes.
Thereportunderscoresthattechnology’spotentialisbestrealizedwhenitisguidedbycollaboration.Tradetechbothrequirescollaborationbetween
governments,industryandtechnologypartners,
andenablesit–turningcomplexityintoopportunity.
ThroughtheTradeTechGlobalInitiative,theUnitedArabEmiratesMinistryofForeignTrade,theAbuDhabiDepartmentofEconomicDevelopmentandtheWorldEconomicForumcontinuetoadvancethisvision,positioningtechnologyasastrategic
bridgebetweeneconomiesandacatalystforsharedprosperity.
Weinviteallstakeholderstojoinusinshapingafuturewheretradeisnotdividedbydisruptionbutstrengthenedbycollaboration,andwheretechnologyservesastheenduringbackbone
ofamoreresilientglobaleconomy.
TheTradeTechParadox:ConnectivityAmidFragmentation4
Executivesummary
Inaneraofgeopoliticalfracture,thefutureoftradedependsonhowtechnology
connects,protectsandendures.
Althoughgeopoliticshasalwaysinfluencedglobaltrade,thescaleandspeedoftodaysshiftssignifyamoreprofoundtransformation.Specifically,
theglobalorderunderpinningtrade,notablythe
rules,alliancesandsystemsthathavegoverned
exchangefordecades,isbeingactivelyrewritten.Yetonetruthremainsconstant:theglobaleconomythrivesthemostwhensomelevelofstabilityand
directionispresent.Astheworldfragmentsandrebuilds,thecriticalquestionbecomes:howcantraderemainstable,connectedandresilient?
Technologyofferspartoftheanswer.Themodernintegrationofdigitalinfrastructureacrosseverylayerofthetradingsystemhasallowedglobalcommercetotransformfromaseriesoftransactionsinto
aninterconnected,adaptivenetworkcapableof
withstandingdisruption.Fromsmartlogisticsto
digitaltradefinance,technologyenablesvisibility,
trustandagilityacrossborders,helpingglobaltradeevolveeveninturbulenttimes.
Concreteexamplesthroughoutthereport
demonstratehowemergingtechnologiesarealreadyenablingnewefficienciesandinclusionacrossthetradeecosystem,suchas:
Agenticartificialintelligence(AI)andintelligent
assistantsempoweringsmallandmedium-sizedenterprises(SMEs)tocompeteglobally
Digitaltradefinanceplatformswideningaccesstoliquidityandacceleratingtime-to-cash
Blockchainanddigitaldocumentationtoolsstrengtheningcompliance
Theinternetofthings(IoT),dataplatforms
anddigitaltwinsincreasingtransparencyandpredictabilityacrosscomplexsupplychains
However,technologyalonecannotsafeguardthe
systemitpowers.Asdigitalinfrastructurebecomesabargainingchipingeopoliticalcompetition,relyingontechnologyasthesolesolutionrisksdeepeningvulnerability.Thus,resilienttraderequiresmore
thaninnovation;itrequiresstronggovernance,collaborationandhumancapability.
Thisreportintroducesanewwaytovisualizethis
relationship:thetradetechstack.Thetradetech
stackillustrateshowinstitutions,technologyand
thepeoplewhodrivetheminteractasaliving
framework,onethatisconstantlyevolvingtoremaineffective.However,unliketheroleofgovernments,internationalorganizationsorenterprises,inthe
tradetechstack,technologyisnotafixedlayer;itisadynamictoolthatconnectseverysingleindividualandinstitution.Itistheconnectingfabricoftrade.
Thus,toensurethattraderemainsstable,
technologymustbeenabled.Thisyearsanalysishighlightsthreereinforcingpillarsessentialto
strengtheningtheconnectingfabricofglobaltrade:
1Collaborativegovernance
2Cross-layerpartnerships
3Humancapacity
Ultimately,theresilienceoftechnologyamid
geopoliticalshiftsdependsnotonlyondigital
innovationbutonhumancollaboration.By
reinforcingboththedigitalandhumanlayersoftheglobaltradingsystem,technology,asanintegral
partofthetradetechstack,providesapathway
towardsamoreinclusive,efficientandadaptiveeraofglobalcommerce.
TheTradeTechParadox:ConnectivityAmidFragmentation5
Introduction
Geopoliticsisreshapingtradeand
technology,yetdigitaltoolscansustainflows,deepenresilienceandexpand
collaborationacrossborders.
SincetheendofWorldWarII,internationaltradehasbeenanchoredbyarules-basedsystem
andinstitutionsthatreducedtradebarriersand
expandedmarkets.TheGeneralAgreementon
TariffsandTrade(GATT),succeededbytheWorldTradeOrganization(WTO),providedtheframeworkforthegradualliberalizationofglobalexchange,
whichresultedina4,300%growthinworldtradelevelssince1950.1Technologicaldevelopmentsplayedakeyroleinthisgrowth;containerization,digitalnetworksanddata-drivenoperations
empoweredbusinessestobuildcomplexsupplychainsacrossborders.
Thistradegrowthisnowthreatenedbyheightenedgeopoliticalrisk.2Globalmerchandisetradevolumeisforecasttogrowbyonly2.4%in2025,down
from2.8%in2024,andslowevenfurtherin2026tojust0.5%asaresultofhighertariffsandtradepolicyuncertainty.3Discriminatorytradepolicieshaveseenaremarkableincrease,risingfrom55in2019to2,752in2024.4
Thisuncertaintradeenvironmentismakingitmoredifficultforbothgovernmentsandbusinesses
tooperate.Policy-makersaretryingtobalance
security,resilienceandcompetitivenesswhilefirmsmustreorganizetheirsupplychainsandcomply
withanincreasingnumberoftraderules.
Technologyisalsoaffectedbythesegeopoliticalshifts,notablythroughexportcontrols,datasovereigntyandmarketaccessrestrictions.Today,technologysitsattheintersectionofnationalsecurityandcompetitive
advantage.Technologycanenablethemovementofgoods,moneyanddata,creatingnewavenuesfor
collaborationbetweenallactorsinthesystem,whilealsodeepeningstrategiccompetition,asnationsseektosecuretechnologicalsupremacy.
Inthiscontext,globaltradeisincreasinglyshapedbyatradetechparadox:geopoliticaltensions
ononehand,andunprecedentedtechnologicalconnectivityontheother.Politicaldivergenceandstrategicrivalriesarepullingsupplychainsapart,whiletechnologicalinnovationsareenablingnewformsofcollaborationandconnection.
TheTradeTechParadox:ConnectivityAmidFragmentation6
1
Thetradestack
Thetradestackisalivingframeworkthat
revealshowinstitutionsandbusinessescometogethertoshapemoderncommerce.
TheTradeTechParadox:ConnectivityAmidFragmentation7
Becauseinternationaltradeinvolvesmany
overlappingsystemsandactors,itisdifficultto
captureinasimple,cohesiveframework.Thetradestackoffersawaytoorganizeandunderstand
thecomplexwebofmoderninternationaltrade.Itprovidesaframeworkthatgroupsthemanyactorsandinstitutionsinvolvedinglobalcommerceinto
severalconnectedlayers.Eachlayerrepresentsadifferentfunctionofhowtradeisgoverned,enabledandcreated.
Thestackisnotastricthierarchyoracomplete
descriptionofreality,butatoolforunderstanding
howthesystemfitstogether.Becausetradeis
deeplyinterconnected,therewillalwaysbeoverlapbetweenlayers,andsomeorganizationsorsystemsmayoperateacrossmorethanone.Othersmay
notfitneatlyintoanysinglelayer.Thisoverlapis
intentional:itshowsthattheglobaltradingsystemisnotasetofseparateparts,butanetworkwherepolicy,facilitationandproductionconstantlyinteract.
Globalfoundationalframework
1.1
Thislayerdoesn’tmoveorproduceanygoodsbutinsteaddecidesthecircumstancesunderwhich
globaltradecanfunction.
Theglobalfoundationalframeworkdefinesthe
institutionalandnormativebaseofthetrade
system.Itconsistsofinternationalorganizations,multilateralagreementsandstandard-setting
bodiesthatestablishtherules,normsandsharedcommitmentsguidingglobalcommerce.
Globalfoundationalframework
TABLE1
Examplesofparticipatingactors
Roles
MultilateralorganizationssuchastheWTO,InternationalMonetaryFund(IMF),WorldBank,UnitedNationsTradeandDevelopment(UNCTAD);regionaltradeblocssuchastheEuropeanUnion,AssociationofSoutheastAsianNations
(ASEAN),andtheAfricanContinentalFreeTradeArea(AfCFTA);plurilateraleconomicpartnerships
InternationalstandardsbodiessuchastheInternationalOrganizationfor
Standardization(ISO),InternationalTelecommunicationUnion(ITU),andWorldCustomsOrganization(WCO);datagovernancealliances
WTOcommitteesanddisputepanels,internationalarbitrationcourts,regionaleconomiccouncils
DevelopmentbankssuchastheWorldBank,AsianDevelopmentBank(ADB),AfricanDevelopmentBank(AfDB);UNagencies;donoralliances
TheUnitedNationsFrameworkConventiononClimateChange(UNFCCC),theInternationalLabourOrganization(ILO),theGlobalReporting
Initiative(GRI)
Academicconsortia,thinktanknetworks,intergovernmentalresearchbodies
Establishinternationaltradeandeconomicframeworksthatgoverncross-borderexchange,competitionandcooperation.
Developglobalstandardsandnormsforproductquality,safety,datagovernanceandinteroperabilityacrossborders.
Coordinatemultilateralagreementsanddisputesettlementmechanismstoensurestabilityandfairnessinglobaltrade.
Provideglobalfinancing,developmentassistance,and
technicalcapacity-buildingfortradeinfrastructureanddigitaltransformation.
Defineandpromotesustainability,labourandhumanrightsframeworksthatguideethicalandinclusiveglobalcommerce.
Conveneresearch,knowledgeanddataplatformsthat
generatesharedevidenceandpolicyinsightforinternationaltradegovernance.
TheTradeTechParadox:ConnectivityAmidFragmentation8
Nationalgovernancelayer
1.2
Thenationalgovernancelayertranslatesglobalframeworksintodomesticpolicyandregulation.
Itincludesnationalgovernments,ministriesand
agenciesthatcraftandenforcetradelaws,customs
procedures,fiscalinstrumentsanddigitalgovernancepolicies.Theseactorsensurecompliancewith
internationalobligationswhileprotectingnational
interestsandfosteringinnovationandcompetitiveness.
Nationalgovernancelayer
TABLE2
Roles
Setandenforcenationaltrade,economicandindustrialpolicytoguidecompetitiveness,innovationandsustainablegrowth
Regulatecustoms,tariffsandbordermanagementtoensurecompliancewithtradelawsandinternationalagreements.
Implementandenforcedomesticregulationforproductsafety,standardsandcertificationtoalignwithglobalnormsor
nationalpriorities.
Negotiateandadministertradeagreementsandinternationalcommitments,representingnationalinterestsinglobalforums.
Developandimplementdigitalanddatagovernancepoliciestoregulatecross-borderdataflows,digitaltradeandcybersecurity.
Overseeenvironmental,labourandsocialcomplianceframeworks,ensuringthatproductionandtradealignwithsustainabilityand
ethicalstandards
Designandadministerfiscalandfinancialmechanismsthatenabletradeandindustrialactivity,includingsubsidies,incentivesand
exportfinance
Ministriesofforeignaffairsandtradenegotiationunits,permanentmissionstointernationalorganizations
Ministriesofdigitaltransformationandinformationtechnology(IT),dataprotectionauthorities,cybersecurityagencies
Ministriesofenvironment,labourandsocialwelfare;sustainabilityandclimateagencies
Ministriesoffinance,export-importbanks,investmentpromotionagencies
Examplesofparticipatingactors
Ministriesordepartmentsoftrade,economyandindustry;nationalplanningcommissions
Customsandborderprotectionagencies,ministriesoffinanceorrevenue,tariffauthorities
Standardsandmetrologyorganizations,accreditationbodies,foodanddrugauthorities,productsafetyagencies
1.3
TABLE3
Tradeenablerlayer
Thetradeenablerlayeristheoperationalengineoftrade:theecosystemthatmoves,finances,verifiesandconnectsgoods,servicesanddataacross
Tradeenablerlayer
borders.Itincludeslogisticsandtransportproviders,financialintermediaries,certificationandinspectionagencies,andsustainabilityverifiers,amongothers.
Examplesofparticipatingactors
Roles
Transportanddistributegoodsacrossbordersthroughmaritime,air,railandlandnetworks,ensuringtheefficientandreliablemovementoftradeflows.
Shippinglinesandcarriers,aircargooperators,truckingandrail
freightcompanies,freightforwardersandthird-/fourth-partylogisticsproviders,portandterminaloperators
Portauthorities,airportoperators,inlandterminalsanddryports,freezonesandindustrialparks,infrastructuredevelopmentandmanagementagencies
Supplychainsoftwareproviders,digitalfreightplatforms,internetofthings(IoT)andsensornetworks,cargovisibilityandtrackingservices,digitaltwinsandlogisticsanalyticscompanies
Telecoms,satelliteproviders,internetexchangepoints,cloud-serviceoperators,identity-authenticationservices,applicationprogramminginterface(API)andblockchainnetworkproviders
Customsbrokers,certificationserviceproviders,tradecomplianceandconsultingfirms
Banksandtradefinanceinstitutions,fintechplatforms,paymentserviceproviders(PSPs),insuranceandreinsurancecompanies,blockchain-basedtradefinancenetworks
Operateandmanagephysicaltradeinfrastructure–suchasports,
airportsandspecialeconomiczones–thatconnectmarketsandenabletradecapacity.
Providelogisticstechnologyandsupplychainvisibilitysolutionsthatdigitize,optimizeandtrackglobaltradeoperations.
Providesecuredigitalinfrastructurethatconnectstradesystems,tradedataexchangeandoperationalcybersecurity.
Facilitatecustomsclearance,certification,andcompliancetoenablecompliantandefficientcross-bordertrade.
Enabletradefinance,insuranceandpayments,providingliquidity,riskmanagementandsettlementmechanismsforglobaltransactions
TheTradeTechParadox:ConnectivityAmidFragmentation9
1.4
TABLE4
Enterpriselayer
Theenterpriselayerrepresentstheproductive
andinnovativecoreoftheglobaleconomy–theactorswhocreatewhatistraded.Enterprises
includeproducers,manufacturers,innovatorsand
Enterpriselayer
serviceproviderswhotransformresources,ideasandknowledgeintotradablegoods,services
andtechnologies.
Examplesofparticipatingactors
Roles
Grow,extractorharvestnaturalresources,agriculturalgoodsandenergyresourcesthatformthefoundationsofinternationalgoodstrade
Manufacture,byconvertingraworintermediategoodsintofinishedproductsthataretradedglobally
Innovate,researchanddevelopnewtechnologies,tools,digitalsystemsandprocessesthatareusedacrosssectors
Deliverknowledgeandprofessionalservice-basedsolutions,
includingconsulting,legal,healthcare,educationanddigitalservices
Farmersandagriculturalcooperatives,agribusinesses,fisheriesandforestryoperators,miningandextractiveindustries,energyproducers,commodityproducersandexporters
Industrialmanufacturers,assemblersandprocessors,equipmentandmachineryproducers,consumergoodsproducers,foodandbeverageprocessors,andindustrialsmallandmedium-sized
enterprises(SMEs)andcontractmanufacturers
Technologyenterprises,R&Dlabs,engineeringanddesignfirms,start-upsandscale-ups,softwareandITservicecompanies
Professionalserviceproviders(law,accounting,audit,finance,healthcare),consultingandadvisoryfirms
Interactionsbetweenlayers
Thestrengthofthetradestackliesinthesepointsof
connection,wherecollaborationandtechnologiesallowtheentiresystemtointeract,adaptandevolvetogether.
1.5
Thelayersofthetradestackaredesignedto
clarifyroleswithinthecomplexwebthatisthe
interconnectedglobaltradingsystem,nottocreaterigidboundaries.Regulatedbypolicy,theflowoftrade,dataandmoneymeansthatactorsoften
operateacrosslayers.Forexample:
–Atechcompanymightbuilddigitalinfrastructurethatsupportsenterprisesandenablestrade
–Nationalgovernmentsparticipateinglobalpolicy-makingwhileregulatingandenforcingrulesatthenationallevel
–Logisticsfirms,banksanddigitalplatforms
frequentlyactasbothenablersandinnovators
Thetrade“stack”and“l(fā)ayer”metaphorsrecognizethateachpartofthesystemhasitsprimary
functions,butinteractscontinuouslywiththe
others.Thestrengthofthetradestackliesinthese
pointsofconnection,wherecollaborationandtechnologiesallowtheentiresystemtointeract,adaptandevolvetogether.
Noneoftheselayersexistsinisolation,andeach
isbeingreshapedbyachanginggeopolitical
landscapethatisredefiningtraderelationships,
investmentflowsandthetechnologiesthatconnecttheentiresystem.Forsome,thisfragmentationandpolicydivergenceareaddingfriction,uncertainty
andduplication.Forothers,thisshiftiscreatingnewopportunities:connectorcountriesareemergingasneutralhubs,digitalinfrastructureisopeningnew
pathwaysforcollaborationandcooperation,andfirmsareinnovatingfastertomeetnewdemands.Thetradestackreflectsthisreality:itisnotastaticstructure,butalivingsystemevolvingunderthe
pressureofgeopoliticsandglobalchange.Amidtheseshifts,technologyisplayinganenablingrolebyfacilitatingconnection,trustandcollaborationwithinandacrossalllayers.
TheTradeTechParadox:ConnectivityAmidFragmentation10
2
Thetradetechstack
Technologyanddataformthedigitalfabricofthetradestack,connectingeverylayerbyenablingtrust,visibilityandcollaboration.
TheTradeTechParadox:ConnectivityAmidFragmentation11
Servingasthe
connectingfabricofthisframework,technologyand
dataareenabling
newformsof
coordinationacrossgovernments,
enablersand
enterprises.
Thetradestackintroducedthemanyactorsthatshapeinternationaltrade,butunderstandingwhotheactorsareandwhattheydoisonlythefirstpart.Therealtransformationcomesfromhow
theselayersconnectandexchangeinformation.
Astradesystemsbecomemorecomplexandinterconnected,technologyanddataarethecommonlanguagethatbindsthemtogether.
Acrossports,borders,financialinstitutionsand
digitalmarketplaces,technologyanddatanow
providethesharedinfrastructureandnetworksthataretransformingtradefromaseriesoftransactions
intoaconnectedglobalsystem.Thisevolution
markstheshiftfromthetraditionaltradestackto
theemergingtradetechstack,asystemwhere
digitalcapabilitiesareembeddedineverylayer
ofglobalcommerce.Servingastheconnecting
fabricofthisframework,technologyanddata
areenablingnewformsofcoordinationacross
governments,enablersandenterprises.Fromdigitalportsandblockchainnetworkstosupplychain
toolsandfintechinnovationsdrivenbyartificial
intelligence(AI),thesetechnologiesarepoweringamoreconnected,cooperativeandresilientglobaltradingsystem.
Thetradetechstack
FIGURE1
Enterpriselayer
Tradeenablerlayer
NationalgovernancelayerGlobalfoundationalframework
Note:Thisfigureprovidesanoverviewofthetradestack,showinghowtechnologyactsastheconnectingfabricbetweeneachlayer.
Giventhestrainoneachlayerasaresultof
geopoliticalrealignmentsandgrowingeconomicfragmentation,theconnectingfabricismore
importantthanever.Thedigitalplatforms,data-
sharingsystemsandintelligenttoolsoutlinedintherestofthissectiondemonstratehowtechnologyisincreasingvisibility,predictabilityandcollaborationacrossborders,thusstrengtheningthetradestack.
2.1
Single-layerconnections:innovationswithinlayers
Single-layerinnovationsempowerandconnect
actorswithinlayers.Theyserveonelayer’s
workflowswithoutcreatingcross-layergovernanceorco-managedprocesses.
Augmentinghumancapital
Thistypeofinnovationcanbeparticularlyusefulforsmallandmedium-sizedenterprises(SMEs),
whichfaceresourcechallengesrelativetolargerenterprises.AccordingtoresearchfromAlibaba.com,anestimated40%ofglobalSMEsoperateassoloentrepreneurs,andtheyhavehistoricallystruggledtocompeteduetolimitationsintime,
finance,personnelandindustryknow-how.Atthesametime,63%ofSMEsareactivelyexploring
waystoharnessAIforglobaltrade,given
theirpotential.
TheTradeTechParadox:ConnectivityAmidFragmentation12
TABLE5
AcomparativeassessmentoflargeenterprisesandSMEcompetitivenessinglobaltradenetworks
Dedicatedlegalteams
managecustoms,tariffsandinternationalstandards
Fewerresourcesforandcertification
complianceNon-compliancerisksexcludeSMEs
fromhigh-valueorregulatedmarkets
Regulatorycompliance
Areaofadvantage
Capitalandfinancing
Economiesofscale
Technology
and
infrastructure
Global
networks
Largebusinesses
Accesstosubstantialcapitalreserves,globalinvestorsandfavourablelendingterms
Achievelowerper-unitcoststhroughbulkproductionandlogistics
efficiencies
Investinautomation,AIanalytics,blockchaintrackingandadvancedlogisticssystems
Establishedpartnerships,
subsidiariesandlong-termsupplierrelationships
WhythisplacesSMEsatadisadvantage
Constrainsabilitytoscale
operations,investininfrastructureorabsorbtradeshocks
Resultsinuncompetitivepricingandlowerprofitmarginsin
globalmarkets
Leadstoinefficiencies,s
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