e-commerce | digital economy
As the US mulls a digital trade agreement to counter China, it faces a key problem: Many countries in Asia don’t want to join any deal seen as challenging Beijing, whose tech giants are deeply entrenched in the region.
White House officials are discussing proposals for a digital trade agreement covering Indo-Pacific economies as the administration seeks ways to check China’s influence in the region.
It is still too early to hail a digital economy agreement between Singapore and Vietnam. And it will be an even longer road before Vietnam can align itself with Singapore’s digital trade standards so that both nations can reap the full benefits of any potential agreement.
Singapore and the United Kingdom have negotiation talks on a digital economy agreement, UK-Singapore Digital Economy Agreement (UKSDEA).
Vietnam and Singapore have agreed to promote the early establishment of a joint technical working group on a digital partnership, towards a bilateral agreement on digital economy.
In this competition over standards, whichever nation first strikes a trilateral deal with technology leaders Japan and South Korea will secure a strategic chokepoint in the digital architecture of Asia.
The organizations said including a legal shield for tech companies in trade deals “reflects a broad effort by the big tech platforms to use ‘trade negotiations’ to limit domestic policy options.”
South Korea held a public hearing on its bid to join a global pact on the digital trade sector that covers a wider array of issues beyond conventional free trade agreements.
US Trade Representative has raised digital trade as an area of potential future cooperation in her coversations thus far with Asian partners.
Trade officials in the meeting of the US-Central Asia Trade and Investment Framework Agreement (TIFA) discussed the importance of digital trade for achieving broad-based inclusive economic growth and innovation.
Some WTO Members are negotiating rules on ecommerce. This is the draft consolidated text as of 14 December 2020.
Some WTO Members are negotiating rules on ecommerce. This is the draft stocktake text as of August 2020.
The RCEP will undoubtedly pave the way for China’s new digital yuan expansion throughout Asia.
A Latin American social media industry group that includes Facebook and Twitter said a reform in Mexico would violate an international trade pact, in swift backlash to a draft bill that seeks to regulate social media platforms.
Google’s Singapore subsidiary could use a controversial ISDS provision in the Singapore-Australia Free Trade Agreement to demand millions in compensation over proposed Australian regulation for payment of news content.
Google and Facebook could sue the government for billions of dollars over a proposed law to force the digital giants to pay publishers for displaying news content, by seizing on investment clauses in the Australia-Singapore trade agreement.
The US has said the proposed legislation could run counter to the US-Australia free trade agreement.
German industry group BDI wants the EU to ban localization requirements and other limits to the free flow of data across borders.
The Digital Economy Partnership Agreement between New Zealand, Singapore, and Chile will enter into force today.
Britain hopes Singapore and Vietnam deals will bring it closer to joining Trans-Pacific Partnership.