Decoding the digital economy

by Mary Louise Malig Read the publication in full here Content:IntroductionScope of the Digital EconomyThe Platform EconomyThe Value of DataThe Technology of the Digital WorldPreliminary conclusions and Afterthoughts Introduction Have you ever taken a ride in an Uber or Lyft? Do you have a room or apartment that you have registered as a place to rent out on AirBnB? Have you ever bought and downloaded … Continue reading Decoding the digital economy

Preliminary conclusions and Afterthoughts

There is no doubt that the digital economy is vast and complex and with the rapid changes in technology that impacts various elements, the understanding of all its moving parts is therefore a challenge in and of itself. The innovations that led to even more progress in new technologies, infrastructure, software, programs, algorithms, blockchain technologies and information, communications technologies, have had and continue to have … Continue reading Preliminary conclusions and Afterthoughts

The Technology of the Digital World

Innovation has moved forward the development of new digital technologies, improvement of older models of software or hardware, and research and development for even more, keeping up with the growth of the digital economy. There are many new digital technologies, but for this paper, we have selected a few key ones that are critical in enabling the digital economy and serve as the building blocks … Continue reading The Technology of the Digital World

The Value of Data

It is quite important to note that all the issues discussed in the preceding chapters on digital platforms, the digital economy and all the layers to it, that none of that would be possible without data. In the digital economy, data is the new oil. It is an extremely valuable resource that fuels the whole system. Data is not only valuable to the corporations that … Continue reading The Value of Data

The Platform Economy

Digital platforms are best described as a technology based space which facilitates the meeting and matching of individuals or businesses that would not have otherwise met. For example, a digital platform, using its data driven infrastructure and operations, is able to then more effectively bring together sellers and consumers who have the same interests and are suited for each other. There are two types of … Continue reading The Platform Economy

Scope of the Digital Economy

A traditional economy is generally defined as: “An economy is the large set of inter-related production and consumption activities that aid in determining how scarce resources are allocated. In an economy, the production and consumption of goods and services are used to fulfill the needs of those living and operating within it.” [4] Resources generally referring to natural resources such as oil, gas, minerals, and … Continue reading Scope of the Digital Economy

The WTO and the havoc in the global supreme court of free trade

by Mary Louise Malig Read the publication in full here Content: Introduction Breaking down the Dispute Settlement Mechanism Bully capitalism versus the Appellate Body The interim dysfunctional way of settling disputes and the reform proposals The barely functioning and non-functional pillars of the WTO Introduction Back in 1995, when the World Trade Organization (WTO) had just started, it was the talk of the town. This … Continue reading The WTO and the havoc in the global supreme court of free trade

The barely functioning and non-functional pillars of the WTO

As mentioned earlier, the WTO has three pillars to keep it running, to monitoring trade policies globally, provide a forum for negotiations on new issues, and to enforce the 60 plus agreements under the WTO and settle disputes between Member states. The functioning of these three pillars is crucial, and although it may sound simple: negotiations for new trade rules, monitoring and resolving disputes, none … Continue reading The barely functioning and non-functional pillars of the WTO

Bully capitalism versus the Appellate Body

In an US election year, then President Obama as represented by the United States Trade Representative (USTR) began a risky precedent. That 2016, the US blocked the reappointment of Appellate Body jurist Seung Wha Chang. Chang was up for a reappointment as the norm is that the jurists serve for four year terms that can be renewed once. The US complained that Chang was responsible … Continue reading Bully capitalism versus the Appellate Body

Breaking down the Dispute Settlement Mechanism

Breaking it down to sections, it can be noted that there are stages to this process: the first is the consultation process, second the review and reporting of the panel body then the Appellate Body from which comes the recommendation and ways on the implementation of the ruling which may include sanctions, countermeasures, retaliatory measures or compensations. In some cases, Arbitrators are involved in the … Continue reading Breaking down the Dispute Settlement Mechanism

The anachronism of the World Trade Organization

Mary Louise Malig* The 12th Ministerial of the World Trade Organization (WTO) is finally taking place in Switzerland in a moment when this country has banned all flights from the South Africa region and established a ten-day quarantine for all persons coming from this part of the world plus Hong Kong, Israel and Belgium because of the Omicron variant.[1] Update: Latest news: the 12th Ministerial … Continue reading The anachronism of the World Trade Organization

“America is back” and it’s ominously reviving the crisis-riddled WTO

By: Mary Louise Malig* US President Biden has stated on a few occasions that, “America is back” reinforcing the message that the US is going to repair relationships with allies and institutions. Biden immediately re-entered the US into the Paris Climate Accord. He also reassured the World Health Organization (WHO) that the US was back on board. Biden and the new administration were and are … Continue reading “America is back” and it’s ominously reviving the crisis-riddled WTO

¿El futuro es realmente digital? Desenredando el comercio digital

Por: Mary Louise Malig [English version] Lea la publicación completa aquí Contenido Parte 1: ¿Qué es el comercio digital? Parte 2: La economía de las plataformas digitales y sus propietarios Parte 3: El estado de la negociación sobre las reglas Parte 4: La economía digital: Hay más que el comercio  Conclusiones Introducción “Comercio digital” es una palabra de moda actualmente, no solo en los círculos … Continue reading ¿El futuro es realmente digital? Desenredando el comercio digital

Conclusiones

[English] El comercio digital no es nuevo, de hecho, existe desde los años noventa. El comercio digital, por utilizar la definición más estricta del comercio electrónico, es la venta y la compra de bienes y servicios a través de Internet que se entregan digitalmente. Muchos sostienen que, aunque todo el proceso se realice en línea, si el producto final es un bien físico, no se … Continue reading Conclusiones

Parte 4: La economía digital: Hay más que el comercio

[English] La economía digital es un espectro mucho más amplio y el comercio digital es sólo una parte de él. La economía digital implica nuevas tecnologías, una infraestructura más rápida y muchos más trabajadores cualificados en tecnología y otras áreas importantes.  Sólo hay que ver la figura de abajo: Tecnologías digitales que ya están aquí o que llegarán muy pronto 1. Tecnologías de cadena de … Continue reading Parte 4: La economía digital: Hay más que el comercio

Parte 3: El estado de la negociación sobre las reglas

[English] Ya en 1998, la Organización Mundial del Comercio (OMC) emitió una Declaración Ministerial sobre el Comercio Electrónico Global en la Segunda Conferencia Ministerial de la OMC celebrada en Ginebra (Suiza). En ella, solamente se reconocía que el comercio electrónico global estaba creciendo y que, por lo tanto, la OMC necesitaba tener un programa de trabajo para discutir las normas que regirían esta nueva forma … Continue reading Parte 3: El estado de la negociación sobre las reglas

Parte 2: La Economía de las Plataformas Digitales y sus Propietarios

[English] Para entender mejor la economía de las plataformas digitales, desglosaremos los distintos tipos de plataformas; veremos cómo los datos pasan de ser materia prima a ser un bien monetizado en la cadena de valor digital; y analizaremos cómo el debate sobre el comercio digital no debe limitarse al tema de aranceles a los bienes y servicios digitales, y debe incluir la problemática de los … Continue reading Parte 2: La Economía de las Plataformas Digitales y sus Propietarios

Parte 1: ¿Qué es el comercio digital?

[English] El comercio digital, al igual que el comercio tradicional, es parte de la economía. El comercio digital es un componente de la creciente economía digital y afecta a la economía no digital que es mucho más amplia. El comercio digital no es nuevo. Sin embargo, a pesar de que existe desde hace tiempo, no hay acuerdo a nivel internacional sobre su definición y alcance. … Continue reading Parte 1: ¿Qué es el comercio digital?

Conclusions

[Español] Digital Trade is not new, in fact, it has been around since the nineties. Digital trade, to use the narrowest definition of e-commerce, is the sale and purchase of goods and services via the internet of which they are delivered digitally. Many argue that even if the whole process happened online, if the end product is a physical good, then it is not digital … Continue reading Conclusions

Part 4: The Digital Economy: There is more to it than trade

[Español] The Digital Economy is a much broader spectrum and digital trade is just a part of it. Digital economy involves new technologies, faster infrastructure and a whole lot more skilled workers in technology and other significant areas.   Just see the figure below: Digital Technologies that are already here or coming real soon 1. Blockchain technologies Blockchain technologies are a form of distributed ledger … Continue reading Part 4: The Digital Economy: There is more to it than trade