12. How does technoloyg affect transportation and communication which are important factors for international trade?
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According to a survey done by IMF, the cost of transportation and communication have declined dramatically from 1920 to 1990 due to the development of technology. Some relative figures are showed in the following table.
| 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
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