0 comments on “OECD host Digital Economy Webcast On March 16”

OECD host Digital Economy Webcast On March 16

oecd-tax-talks-squareWith a number of recent and upcoming developments in the OECD’s international tax work, OECD invite to join a live webcast with experts from the Centre for Tax Policy and Administration for an update on the work relating to the tax challenges arising from the digitalisation of the economy, in view of the upcoming G20 Finance Ministers meeting.

register and source: http://www.oecd.org/ctp/tax-talks-webcasts.htm 

0 comments on “International cooperation on arctic development and the digital economy”

International cooperation on arctic development and the digital economy

Between 28 February 2 March, the 2nd Russian-Chinese Economic forum, Eastern Perspective of the Russian Economy was held in St. Petersburg. DOC Research Institute Program Manager Andrey Filippovattended the conference and took part in discussions on infrastructure development and the digital economy.

International cooperation in industrial production, Internet commerce, education, banking and investment in medicine, the textile industry and tourism were discussed. One of the key parts of the forum was dedicated to international cooperation on the Arctic, in the context of creating an infrastructure for the development of the northern hemisphere and new logistics routes in the region.

Experts noted the demand to develop new financial and logistic models for decision-making in supply chain management, logistics and warehousing, and also stressed the importance of taking into account the climatic conditions of high humidity and low temperatures.
The widespread usage of digital technologies has a significant impact on economic development and international trade. Despite their popularity, they are still new and, promise to have a significant impact on global economic development over the next decade.

source: https://doc-research.org/en/international-cooperation-arctic-development-digital-economy/

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Belarus – Gomel to host conference on digital economy

An international scientific conference on the topical issues of theory and practice in today’s economics will take place at Francysk Skaryna Gomel State University on 15 March, BelTA learned from the university.

The conference will be centered around digital economy development: strategic priorities of innovative economy development, e-commerce, new technology in business, problems of financial relations, development of regional systems, and other matters.

A total of 200 university students and master’s students from Belarus, Russia, Ukraine, and Bulgaria are set to present their works in five sections.

“This will be the sixth installment of the conference. The number of participants grows every year, with new topical relevant topics coming into the spotlight. For instance, this year some research will be dedicated to cryptocurrencies, blockchain, and the introduction of digital financial instruments into the domestic economy,” the university noted. A collection of scientific articles will be published in the follow-up to the event. The organizers are Belarus’ Education Ministry and Francysk Skaryna Gomel State University.
source:http://eng.belta.by/society/view/gomel-to-host-conference-on-digital-economy-development-15-march-109920-2018/

0 comments on “USA – Cyberspace and Digital Economy Bureau proposal”

USA – Cyberspace and Digital Economy Bureau proposal

US Secretary of State Rex Tillerson wants to develop a Bureau of Cyberspace and the Digital Economy, according to a letter from him to Edward Royce, the chair of the committee of foreign affairs.

The bureau, as described in the letter, would help the US lead international efforts in all aspects of cyberspace. As the world, its economy, and its businesses become increasingly digital, a group of informed experts may be necessary to help develop policies in the US and abroad.

“With increasing incidents of disruptive global cyber attacks, including some sponsored by nation states, and the emergence of the digital economy dependent on internet connectivity, U.S. international leadership in this area will be important in the years to come,” Tillerson wrote.

Cyberspace and Digital Economy Bureau proposal

0 comments on “Bank of Canada warns of leaving winner-takes-all digital economy unchecked”

Bank of Canada warns of leaving winner-takes-all digital economy unchecked

bank-of-canada-wilkinsAccess and control of user data could easily enable companies to drive out their rivals, official says.

A top Bank of Canada official is warning about the risks related to the growing dominance of only a handful of big firms in the digital economy and, more specifically, their monopoly over user data.

Senior deputy governor Carolyn Wilkins said in a speech Thursday that policy adjustments should be a priority for governments concerned about the negative economic consequences of leaving the market power of some of the largest tech companies unchecked.

In prepared remarks of her speech, she said the digital economy is a promising way to raise economic growth and living standards — as long as efforts are made not to leave people behind.

However, the rise of so-called superstar firms can also lead to fewer jobs than those created by conventional companies and make it easier for some to avoid taxes because production isn’t tied to a fixed location.

She also noted that the access and control of user data could easily enable companies to drive out their rivals and weaken the healthy, economy-wide benefits of competition.

“The winner-takes-all effect is magnified in the digital economy because user data have become another source of monopoly power,” she said in her address in Montebello, Que., at a G7 symposium focused on innovation and inclusive growth.

“We are not going to get the full benefits of innovation if we leave market power unchecked.”

Wilkins noted that the world’s five biggest technology companies have a market capitalization of about $3.5 trillion US — almost one-fifth of the size of the U.S. economy.

She laid out several possible solutions like modernizing anti-trust and competition policy as well as exploring data-ownership rules, such as giving users control over their own data.

Wilkins also said more legal clarity is needed in many jurisdictions to deal with concerns over data privacy, security, intellectual property and consumer rights.

Her message on data came as leaders in Canada’s tech community press governments to develop a plan to help the country reap the rewards and address the risks associated with the increasingly important world of big data.

A spokeswoman for Economic Development Minister Navdeep Bains has said there is a role for Ottawa in helping Canada become a leader in data and that discussions are underway.

0 comments on “Leverage the Digital Future for Prosperous Communities”

Leverage the Digital Future for Prosperous Communities

1200px-APEC_Logo.svgSharing the benefits of growth and embracing the digital economy were key themes for senior Asia-Pacific business leaders meeting in Auckland, New Zealand this week.

At its first of four meetings for 2018, the APEC Business Advisory Council (ABAC) welcomed the forecasts for strong regional growth, noting the IMF prediction that Asia-Pacific GDP would expand by 5.4% this year, far outstripping the rate of 2% in advanced economies.

“Growth is clearly an essential but not a sufficient condition for secure and prosperous communities,” said ABAC Chair for 2018, David Toua. “We need to look closely at our economies’ policies to ensure that people can actually take advantage of the opportunities that growth brings. Harnessing inclusive opportunities is a key mantra for this year,” added Mr Toua.

Mr Toua explained that a second big focus was the digital economy. “We have created a new working group to focus specifically on digital and innovation issues,” Mr Toua explained. “The digital economy is growing exponentially. We are seeing a surge of disruptive business models. Even in traditional sectors like agriculture and manufacturing, innovative technologies, digital services, fintech and e-commerce are now central.

“Importantly, the digital economy provides a springboard for small business, women and other disadvantaged groups to take part in trade and connect around the region.

“But we cannot realise the full potential of a ‘Digital Asia-Pacific’ without putting resources and energy into countering the digital divide that risks leaving the most vulnerable behind. In all economies, we also need to nurture a future-ready workforce. That means putting in place the right settings for digital infrastructure, skills and education, and region-wide digital business- friendly regulation,” said Mr Toua.

ABAC members had welcomed the recent conclusion of the Comprehensive and Progressive Trans-Pacific Partnership by 11 APEC economies, Mr. Toua noted that “the agreement was seen as one of the key ‘pathways’ to an eventual integrated Free Trade Area of the Asia Pacific.”

Other priorities discussed included improving connectivity; structural reform especially in the services sector; reducing trade and investment barriers; facilitating creating opportunities for micro, small and medium enterprises; strengthening financial systems, and grappling with issues around sustainable growth such as food and energy security. “Big strategic considerations we will look at include ‘smarter globalisation’ so that the benefits are more widely shared in terms of jobs and living standards, and our ‘Vision’ for the region in the coming decades,” said Toua.

“Our Auckland meeting was also the occasion for our annual Dialogue with APEC Senior Officials. We had extended discussions including on the APEC Post 2020 Vision which will help both sides to develop robust policy approaches on all our key issues for the period ahead,” concluded Chairman Toua.