Regulating For A Digital Economy Understanding The Importance Of Cross Border Data Flows In Asia
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Regulating for a Digital Economy - Understanding the Importance of Cross-Border Data Flows in Asia
The world is experiencing unprecedented increases in connectivity and global data flows. This is underpinning the so-called fourth industrial revolution. Cross-border data access, usage and exchange is essential to economic growth in the digital age. Every industry - including manufacturing, services, agriculture, and retail - relies on data and on the global flow of that data. A number of studies have been published that highlight the scale and importance of cross-border data flows. While the economic and trade opportunity from connectivity and data flows are significant, governments are increasingly introducing measures which restrict data flows - data localization measures. Such measures will have economic and trade costs.Governments restrict cross-border data flows in order to achieve a number of objectives. The main goals of data localization are as follows: 1. Protecting or improving citizen personal privacy. 2. To ensure rapid access to data by law enforcement officials. 3. Protecting or ensuring national security.4. Improving economic growth or economic competitiveness.5. In order to level the regulatory playing field. The key focus for all government when designing regulation to achieve legitimate goals should be to manage risk - whether to privacy, from cyber-attack or the impact of delays to law enforcement agencies - to an acceptable level relative to the economic and social benefits, including innovation, expected from these activities. While it is up to each government to determine its acceptable level of risk, in most cases, data localization is sub-optimal in that there are ways to achieve legitimate regulatory goals with less impact on economic growth and trade.
Proceedings of the 2024 2nd International Conference on Management Innovation and Economy Development (MIED 2024)
Author: Barbara Siuta-Tokarska
language: en
Publisher: Springer Nature
Release Date: 2024-10-10
This book is open access. Economic development is one of the necessary conditions for social development, and management innovation is an inherent attribute of societies, countries, governments, and enterprises. With the advent of globalization in the 21st century, enterprises, governments, countries and other organizational units have put forward higher requirements for management innovation, and economic development is seeing major challenges. The 2nd International Conference on Management Innovation and Economic Development ( MIED 2024 ) will be held in Guilin, China on June 28-30, 2024. The conference aims to provide a platform for experts, scholars, engineering technicians, and technical R&D personnel engaged in the research of economics and management to share scientific research achievements and cutting-edge technologies, understand academic development trends, broaden research ideas, strengthen academic research and exploration, and promote cooperation in the industrialization of academic achievements. The conference cordially invites experts, scholars, business professionals, and other relevant personnel from domestic and foreign universities, research institutions, and other relevant personnel to participate and exchange ideas! We cordially invite you to submit papers and look forward to meeting you in MIED 2024!
The Digital Economy and International Trade
Author: Robert Walters
language: en
Publisher: Kluwer Law International B.V.
Release Date: 2022-09-19
Data flows are the backbone of today’s diversified value and supply chains. In this timely book, a prominent specialist in transnational commercial and private law explores a developing and evolving area of law related to the role of the digital economy in international trade, making a direct call for the need to internationalise the law regulating transnational data flows. Examining the commonalities and divergences in data flow regulation among ten key jurisdictions – Australia, Indonesia, India, Canada, Japan, Singapore, New Zealand, the United Kingdom, the United States, and the European Union – the book covers such issues and topics as the following: reconciling data free flow with trust; managing the increase in data vulnerability; efforts to prohibit trade in personal data within an interconnected digital economy; obstacles to data flows and digital economic development; cybersecurity; FinTech and TechFins; cross-border insolvency; dispute resolution; and data-digital diplomacy. The author compares several bilateral and multilateral free trade agreements, addressing the data-related shortcomings of these instruments and providing a pathway forward. In addition, two case studies are presented of high-profile judicial and regulatory decisions demonstrating the challenges of data flows and their governance. The author cogently demonstrates how an international legal mechanism such as a convention, treaty, or model law could provide greater certainty for data, as well as help to foster economic growth and create jobs and business opportunities. Practitioners and policymakers concerned with data security and privacy will greatly appreciate this book’s important and valuable contribution to a crucial area of law that bodes well to enhance the economic and social well-being of all.