Digital-based Services Globalization and Multilateral Trade Cooperation

The pandemic crisis will likely shift global trade into digital services. This turn is consistent with the broader picture in which the nature of globalization becomes increasingly based on the Internet, ideas, information, and data. That provides new trade opportunities for poorer countries to participate in digital services. To harness the benefits of this trend, policymakers around the globe should take action to stop the reversal of open digital trade policies, find common grounds to foster regulatory cooperation on cross-border data flows, and enhance the understanding of the economic impact of new trade restrictions in digital services.

Automated summary

The pandemic crisis is likely to shift global trade towards digital services, providing new trade opportunities for poorer countries. Policymakers worldwide should collaborate to prevent the reversal of digital trade policies, promote regulatory cooperation on cross-border data flows, and enhance understanding of the economic impact of digital services trade restrictions.