Suominen examines the opportunities that new technologies will open up in world trade, ushering in what she calls “globalization 4.0” within a decade. This future is already apparent, in an incipient form. It involves the digitization of buying and selling (e-commerce), additive manufacturing (3D printing), the use of blockchain technology in various business practices, and the greater availability of credit thanks to direct lending by savers to borrowers. Such changes could enable small and medium-sized enterprises to engage in cross-border trade through e-commerce, in effect becoming mini-multinationals, a prospect of particular interest to the author. Suominen finds many inefficiencies in today’s outdated practices, which she believes can be overcome through international digital standards not only for e-commerce but also for customs processes and for digital services that transmit data across borders.
