Digital trade in the Asia Pacific
Published 23 December 2020
The Covid-19 pandemic has reinforced the importance on the online world to businesses and consumers. Despite the growing importance of digital trade, the ability of governments to tackle a range of issues of relevance to managing the online environment still lags behind the speed of innovation for firms. The digital economy agenda will be challenging to craft but critically important to Asia in 2021 and beyond.
As we move into 2021, what are the key issues facing digital trade in Asia? The Covid-19 pandemic has disrupted global trade and up-ended many longstanding business models. Firms are rapidly shifting to develop or expand digital capabilities to manage highly altered supply and demand pressures. Despite the growing importance of digital trade, the ability of governments to tackle a range of issues of relevance to managing the online environment still lags behind the speed of innovation for firms.
Effective and efficient regulatory policies can support continuing economic growth in the digital economy. Given the overwhelming importance of small firms to every country in Asia, failure to create supportive policies will impede the region's attempt to advance sustainable and inclusive development.
This new paper from the Hinrich Foundation – the first in a series of six reports on digital trade in the Asia-Pacific authored by Dr Deborah Elms, Executive Director at the Asian Trade Centre – identifies eight issues that governments and firms across the region will need to tackle to reap the full benefits of the digital opportunity.
This is the first in a series of Hinrich Foundation essays on Digital Trade. You can read the rest of the essays with the link below:
Listen to a summary of this paper, featuring Deborah Elms and former Hinrich Foundation Director of Research and Outreach, Dr. Andrew Staples.
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