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Digital assets and currencies

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Trading basics

Global trade of secondhand clothing

The global trade of secondhand clothing is a long-standing industry, which has been facilitated by the abundance of donated clothing in wealthy countries. This trade accounts for approximately 0.5% of the total value of clothing traded worldwide, while by weight it accounts for 5%. However, in some countries, imported used clothing constitutes the majority of clothing purchased and used.

Trading basics

Obsolescence

Obsolescence is the process of becoming antiquated, out of date, old-fashioned, no longer in general use, no longer useful, or superseded by innovation, or the condition of being in such a state. When used in a biological sense, it means imperfect or rudimentary when compared with the corresponding part of other organisms. The international standard IEC 62402:2019 Obsolescence Managemen