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✅In News : Digital Globalization(DG)
1. digital globalization and its concept
2. drivers and trends of DG
3. covid-19 impact on DG
4. significance & challenges of DG
5. examples of DG
6. organizations & agreements promoting DG
7. Current News ?
8. Way forward
🧵👇

✅Definition: Digital globalization is a term that describes the phenomenon of increasing cross-border flows of data and information in the digital age
The concept of DG was introduced by the McKinsey Global Institute (MGI) in its 2016 report, "DG: The new era of global flows"21

✅Drivers and trends of DG
1. Digital platforms and ecosystems that connect and coordinate various actors and activities across borders.
2. Digital platforms are online infrastructures that provide the rules, standards, and interfaces for interactions and transactions among

users, producers, and intermediaries of digital goods and services.
Examples of digital platforms include e-commerce platforms like Amazon and Alibaba, social media platforms like Facebook and Twitter, and cloud computing platforms like Microsoft Azure and Google Cloud.

Examples of digital ecosystems include the Apple ecosystem that connects devices, apps, and services, and the Alibaba ecosystem that connects e-commerce, logistics, finance, and entertainment.
3. Another driver of digital globalization is the emergence of new digital business-

models and strategies that exploit and create value from digital flows.
Examples of digital business models include freemium, subscription, platform, and data-driven models.
-Digital strategies are ways of leveraging and developing digital resources and capabilities to -

achieve competitive advantage and growth in the global digital market.
Examples of digital strategies include digital transformation, digital innovation, digital marketing, and digital collaboration.

4. Diffusion of digital technologies and innovations across countries and regions that enhance and transform capabilities and competitiveness.
Examples of digital technologies include artificial intelligence, big data, blockchain, cloud computing, internet of things, and 5G.

✅COVID-19 Acceleration: A Catalyst for Digital Globalization🚀🌐
Surge in Digital Demand:
-Pandemic-driven shifts catapulted the demand and supply of digital goods/services
-Online comm., consumption, and production surged as individuals & businesses embraced virtual realms.

- Technology & thoughts sharing during vaccines production & variants. e.g -GISAID (Global Initiative On Sharing All Influenza Data
- Governance, education & Virtual summits etc.

✅Significance of DG
1. Enhancement of productivity and efficiency of businesses & industries by accessing new markets, customers, suppliers, and talent
2. fostering of innovation and creativity by facilitating the exchange of ideas, knowledge, and tech among individuals & org.

3. The empowerment of individuals and communities by providing them with more information, choices, opportunities, and voice in the global arena.
4. The contribution to economic growth and development by increasing the value and volume of global trade, investment,& consumption

✅Challenges of DG
1. creation of digital divides and inequalities among countries, regions, and groups based on their access, affordability, and capability to use digital technologies and platforms

2. disruption of existing business models and industries by introducing new competitors, regulations, and standards that may require adaptation and transformation.

3. increase of vulnerability and exposure of data and information to cyberattacks, hacking, and misuse that may compromise the security, privacy, and sovereignty of individuals, organizations, and nations.
e.g. Cross-border cyber-frauds increased due to Cryptocurrency

4. The intensification of geopolitical tensions and conflicts among major powers and actors over the control, governance, and influence of digital domains and resources .
e.g.
1. Data Localizations
2. USA-China tech war
3. China-Taiwan
...

✅Examples of DG
1. How Amazon has built and expanded its digital platform and ecosystem
2. others is: Spotify, Facebook, Netflix, Alibaba etc.

✅Organizations & agreements promoting DG
1. World Trade Organization (WTO) Agreement - TRIPS,ITA agreement
2. Budapest Convention on Cybercrime
3. United Nations Convention on the Use of Electronic Communications in International Contracts (UNCEC)

4. International Telecommunication Union (ITU) Telecommunication Standardization Sector (ITU-T)
5. Internet Corporation for Assigned Names and Numbers (ICANN) Uniform Domain-Name Dispute-Resolution Policy (UDRP)

✅Some major points from editorial
1. Withdrawal of USA from WTO trade digital trade proposals
-such as data flows/localisation
-access of source code
-location of computing facilities
Why USA Quit?
-Domestic policy space to regulate Big-Tech & AI
-China factor

Impacts?
- Fragmented laws & policies of other countries leads to splitting of global digital space
- US may go for digital trade deals with allies only-e.g. IPEF & America partnership for economic prosperity

What should developing countries do?
- Resist a trap of New Digital cold war
- Strong digital industrial policies to bolster domestic digital industry

✅Way forward
1️⃣ Boosting Digital Infrastructure:
-Invest in broadband, cloud, and 5G technologies globally to fortify digital connectivity.
-Lay the groundwork for a robust digital foundation, ensuring seamless interactions across borders

2️⃣ Empowering Digital Skills:
-Provide education, training, and lifelong learning opportunities to enhance digital literacy.
-Equip individuals and workers with the skills needed to thrive in an ever-evolving digital landscape

3️⃣ Championing Digital Inclusion:
-Ensure access, affordability, and empowerment for marginalized groups in the digital realm.
-Promote equal participation, fostering a diverse and inclusive digital community.

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