12. How does technoloyg affect transportation and communication which are important factors for international trad?
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Accodring to a survey done by IMF, the cost of transportation and communication has dropped dramatically from 1920 to 1990 as illustrated below.
| Year | Sea (a) | Air (b) | Phone Call (c) | Computers (d) |
|---|---|---|---|---|
| 1920 | 95 | - | - | - |
| 1930 | 60 | 0.68 | 245 | - |
| 1940 | 63 | 0.46 | 189 | - |
| 1950 | 34 | 0.30 | 53 | - |
| 1960 | 27 | 0.24 | 46 | 12,500 |
| 1970 | 27 | 0.16 | 32 | 1,947 |
| 1980 | 24 | 0.10 | 5 | 362 |
| 1990 | 29 | 0.11 | 3 | 100 |
(a) average ocean freight and port charges per ton ($US)
(b) average revenue per passenger mile ($US)
(c) 3 minutes NY/London ($US)
(d) index, 1990=100