Nextrade Group CEO Kati Suominen published her 10th book, Revolutionizing World Trade: How Disruptive Technologies Open Opportunity for All, with Stanford University Press in 2019.
This article summarizes. Here is old blog with many writings in 2012-2017 that shaped this - written at a time when few in the development community were focused on the potential of technology in trade.
In 2020, Revolutionizing World Trade was reviewed favorably in Foreign Affairs and received Bronze medal from Axiom in the category of Best Books in International Business.
In 2021, it was published in Chinese in China, by CITIC Press.
A definite reader on globalization in the 21st century, the book argues that emerging technologies are upending the conceptual lens that has defined globalization and guided thousands of global trade policy decisions, business investments, and development interventions over the past three decades. Suominen argues we are on the cusp of a new era of globalization, one that can be the most dynamic, inclusive and prosperous yet.
Will 22nd century economic historians will look back on today as an era of technological progress that created a global economic renaissance and enabled people around the world gain from trade? Or will the global economy balkanize in the face of digital protectionism and trade wars just as in the 19th century, when countries used tariffs to collect revenue and nurture infant industries, a self-defeating approach that took over a century to correct?
Revolutionizing World Trade shines a light on the clash between an emerging wave of possibilities and outdated policies that arrest it, and develops a bold policy agenda for an era of globalization for all.
See website at: revolutionizingworldtrade.com
Endorsements for Revolutionizing World Trade
"Suominen brilliantly explores the impact of new technologies on the patterns, players, and possibilities of world trade, and their unparalleled potential to reignite productivity, raise incomes, and empower people. She then masterfully lays down a bold and innovative blueprint to help policymakers act on this potential. In an increasingly darkening global trade policy scenario, this is a book by a modern-day Renaissance woman on the renaissance of globalization!"
Anabel González, Nonresident Senior Fellow, Peterson Institute for International Economics, former Costa Rica Trade Minister, Senior Director at the World Bank Trade & Competitiveness and former WTO Agriculture Director
"Trade has historically been expensive, slow, and opaque. Today's disruptive technologies not only offer new solutions to old problems, but create wholly new global markets for products and services. Kati Suominen draws from her deep experience in the world of goods trade to clearly set out the parameters of this new global trading ecosystem, offering excellent insight and advice for goods producers seeking to get involved in frontier technologies like blockchain and AI."
Dr. Alisa DiCaprio, Head of Trade and Supply Chain, R3
"Kati has a wealth of experience in international trade from both a private sector practitioner perspective as well as a public sector policy perspective. Her work has taken her to the forefront of the evolving trade landscape. This book elucidates this evolution and is a great contribution to the debate about the future of trade and our ability to shape its course for the betterment of the global community."
Steven Beck, Head of Trade and Supply Chain Finance, Asian Development Bank
"An important new book, highlighting the trading opportunities that come with new technologies. It analyzes the challenges that need to be overcome, including cross-border procedures, and makes the key point that beyond digitizing trade, we also need to digitize customs, borders, and ports."
Jan Hoffmann, Chief, Trade Logistics Branch, Division on Technology and Logistics, UNCTAD
"Kati Suominen introduces this book as a roadmap for the far-sighted entrepreneur; however, it is much more than that. In Revolutionizing World Trade, she explores the opportunities and challenges facing businesses, policy makers, regulators, and society in general, before finally setting out her manifesto for using e-commerce as a key enabler for inclusive trade. Whatever your role or interest in e-commerce and trade, this book will help you better understand how e-commerce is shaping our world today and the benefits that it can bring tomorrow."
Steven Pope, Vice President Customs & Regulatory Affairs, DHL Express Europe
"In a time of taking two steps back, Revolutionizing World Trade makes a bold leap into the future and the verdict is there is nothing to fear! Suominen provides a thorough review of what's to come for the global economy and while not shying from the real challenges facing consumers, governments and businesses, generates a sense of promise and optimism sorely missing from today's discourse on global affairs."
Susan F. Stone, Senior Trade Advisor, OECD
"Suominen 'gets it.' Globalization, technology, and mass affluence have changed the rules for international expansion. In Revolutionizing World Trade, Suominen walks us through how these changes have upended the traditional trading world, driven by ecommerce and the Internet. Every international business should get this book. Then they can 'get it' as well."
Frank Lavin, Chairman, Export Now, former Undersecretary for International Trade, U.S. Department of Commerce
"Revolutionizing World Trade provides an in-depth look at forces changing trade and global business and makes important recommendations for bold policy ideas which would enable outsized economic growth across global markets. A must-read for anyone driven to solve these big problems."
Brenda Santoro, Head of Global Trade, Silicon Valley Bank