International Trade in a Global Digital Economy

The digital paradigm has far-reaching implications for the global economy and for cross-border trade. Digital technologies are driving a new phase of global economic integration. With respect to international trade, it is generally acknowledged that the digital transformation changes what is traded, who trades and how trade is conducted. Data has emerged as a vital economic resource in the digital economy, leading to an exponential increase in global data exchange and a surge in cross-border data flows. The economic shift from tangible to intangible assets in a digital economy is resulting in the emergence of a digital paradigm for cross-border trade. This chapter is dedicated to illustrating the novel dimensions of cross-border economic activity in the era of digital globalisation. This chapter lays the groundwork for analysing the development of regulations for these new elements within a trade context and provides a background for analysing the nexus with data privacy regulations.