E-Commerce: Catalyst for a Paradigm Shift in U.S. Global Trade

Abstract

In an ever-evolving world, innovation has become the pivot for sustained economic growth and development across nations. In the modern interconnected global village, e-commerce acts as a powerful catalyst for international trade creating the opportunity for small and mid-sized enterprises to enter the global arena with their goods and services, thus fueling economic growth and prosperity. Massive growth and penetration of the internet, mobile communication and digital technologies allow businesses to tap global markets much more easily than before while spoiling the consumers for choice. This article ads to the literature on e-commers; evaluates and highlights its role in facilitating and expanding US international trade and the advantages derived by businesses and consumers, while depicting how e-commerce has caused a paradigm shift in US’s global trade.