Competition plays a crucial role in shaping international trade by driving innovation, improving efficiency, lowering costs, and enhancing product quality, which benefits... moreCompetition plays a crucial role in shaping international trade by driving innovation, improving efficiency, lowering costs, and enhancing product quality, which benefits consumers and economies globally. When countries and companies compete in the global marketplace, they are motivated to refine production methods, adopt new technologies, and allocate resources more effectively to gain an edge over rivals. What Role Does Competition Play in International Trade?
