The Future for Digital Trade

Show Notes

How the global agenda on electronic commerce and digital trade is taking shape.

Moderator:
Rem Korteweg, Senior Research Fellow, Clingendael Institute

Panellists:
Simon Evenett, Professor of international Trade and Economic Development at St. Gallen University
and Director of the Global Trade Alert initiative
Ambassador Pimchanok Pitfield, Permanent representative of Thailand to the WTO
Chris Southworth, Secretary General, ICC UK

This podcast episode was recorded on 25 November 2022

The 2022 edition of the AIG Global Trade Series explores the competition and connectedness that
characterise the current trade landscape.

In this podcast, Rem Korteweg (Senior Research Fellow, Clingendael Institute) is joined by Simon Evenett (Professor of international Trade and Economic Development at St. Gallen University and Director of the Global Trade Alert initiative), Ambassador Pimchanok Pitfield (Permanent representative of Thailand to the WTO) and Chris Southworth (Secretary General, International Chamber of Commerce UK). Listen as they discuss the Future for Digital Trade and how the global agenda on electronic commerce and digital trade is taking shape.

Digital trade continues to grow significantly. While this area of continued globalisation offers tremendous opportunities, many challenges also exist - particularly around digital standard setting and rule making. Some argue that this should take place at the WTO level, but if the WTO can’t do it, how do we get it fixed? And what other initiatives could be useful?

Disclaimer: The views and opinions expressed in this podcast series are those of the speakers and do not necessarily reflect the official policy or position of American International Group, Inc. or its subsidiaries or affiliates (“AIG”). Any content provided by our speakers are of their opinion and are not intended to malign any religion, ethnic group, club, organization, company, individual or anyone or anything. AIG makes no representations as to accuracy, completeness, correctness, or validity of any information provided during this podcast series and will not be liable for any errors, omissions, or delays in this information or any losses injuries, or damages arising from its use.

What is AIG Global Trade Series?

Back to the Future: a New Era of Managed Trade?

Globalisation’s next chapter is being written, driven by concerns about supply chain risks. The global trade in goods is increasingly seen through a security prism in capitals around the world and governments are developing new policies to reduce unwanted dependencies, seek new sources of leverage and guarantee supplies. Trade links are being reordered as policymakers scramble to secure access to strategic materials and positions in global value chains. Meanwhile, geopolitical turbulence and climate ambitions are giving rise to industrial policies, sanctions and a growing use of subsidies.

From investment screening to quotas to export controls, policymakers are proposing an increasing number of tools and policies to steer trade and investment flows. But despite worries about protectionism and fragmentation, trade continues as the private sector manages risk by embracing diversification. Elections in the US, EU, Mexico, UK, Indonesia, India and elsewhere may also lead to a reordering of the global politics of trade. Has the global trade system entered an era of managed trade? What will it mean for regional approaches to trade, and what does it mean for multilateralism and the WTO? Ultimately, the main question could be: who is in the driving seat in this brave new world for trade?