Finding Solutions to Common Digital Economy Challenges under Germany’s Presidency for the G7
This policy brief addresses the two goals of better future as well as economic sustainability and recovery goal, which were outlined by the G7 under Germany’s current presidency to the G7. It aims to analyze four distinct digital trends that are existing in today’s global digital economy in both developing and developed countries with various degrees of penetration and adoption. These trends include data as a new type of infrastructure, Cross Border Flow of Data (CBFD), leveraging Private Public Partnership (PPP) business model in the uptake of 5G, in tandem with strengthening the regulatory bodies, leveling the playing field for all market players, and adopting effective market liberalization strategies. Finally, the fifth trend includes ensuring suitable and harmonized governance and regulatory frameworks for digital platforms on a global level.
This policy brief is meant to help developing countries’ policy makers make suitable decisions and drafting appropriate policies in this specific area. By leveraging best practices and international experience distinctively from the G7 context, the findings of this policy brief would help in achieving this goal. Finally, this contribution ends with suggested implementation plan that aims to strengthen the international cooperation and ties between G7 and developing countries by increasing the awareness of the latter with lessons learned and best practices to promote the above mentioned new digital trends in developing countries. This policy brief is consistent with the pillar of strengthening the common good pillar outlined in Germany’s priorities in its presidency to the G7.