🌐 The world is shrinking! How? Well, in the 20th century, we were all about moving physical goods and services. Now, in the 21st century, we are more about transmitting data and information. Picture this: it's like shifting from a world of moving boxes to a world of moving bytes! Thanks to digital technologies, the cost of global communication and transactions has reduced. Even businesses in high-income countries (HICs) aren't the only ones benefiting - middle and low-income countries are also joining the party!

🔎 For example, think of Amazon. It started as a U.S. company, but now people from all over the world use it to buy or sell stuff. This is the power of the digital age!

📈 On one hand, more countries and smaller businesses are now able to compete globally. We are seeing a surge in cross-border data transmission, including information, searches, communications, video, sales, and inter-company traffic. All thanks to our internet pals! You might have ordered a sneaker from a different continent, tracked its shipment, and paid for it online. That's what we're talking about here!

👾 On the other hand, the digital age also comes with its share of issues. Companies may face pricing pressures and aggressive competition. Not to forget, security is a biggie - there's always a threat of your data being stolen. Also, while social media can create communities, it's also a platform for spreading extremism.