In the past, the participants in international trade did so based on wage-based competition. What has been the new competitive focus in recent years?

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In recent years, the focus of international trade has been on technology-based competition, as countries strive to develop and acquire new and innovative technologies to stay ahead in the global market. This has led to increased investments in research and development, as well as greater emphasis on intellectual property protection. Wage-based competition, currency devaluation competition, and military production competition have become less prominent in the international trade arena.

In the Past, the Participants in International Trade Did So