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In today’s economy, seamless digital connection and the ability to move information across borders are just as critical to global growth as capital flows across borders. However, a series of government policies cropping up around the world threaten the connectedness of the digital economy and have created new issues essential to trade in digital-enabled goods and services encompassing everything from the Internet of Things to intracompany cloud services. The GRC’s Global Connect campaign leads efforts related to the following:
Cross-Border Data Flows: The GRC champions the importance that all companies, including non-ICT companies, place on being able to move data across geographical borders. Efforts include undertaking a sustained education campaign, developing and implementing obligations in trade agreements, and securing regulatory cooperation arrangements to facilitate data transfers.
ICT Forced Localization: Successfully combating growing trends of local content policies or the forced onshoring of data and associated servers requires a creative strategy built upon working with governments to develop alternative solutions that expand their domestic economies without the need for protectionism.
Data Protection: Data protection is a growing concern around the globe, and the demands that consumer expectations and government reactions place on the digital economy present challenges for businesses and regulators alike. Reactionary privacy regimes create difficulties for companies conducting business in-country and worldwide. More must be done to build out the advocacy toolkit in support of privacy as well as increased acceptance among global regulators of a wide range of tools to meet privacy objectives.
Security, Stability, and Resilience: It is crucial that the digital economy remains a secure, stable, resilient, reliable, and trustworthy environment for conducting business. Effectiveness in addressing risks and threats depends on strong cooperation among stakeholders and cannot be achieved via government-only means. Frameworks for strengthening cybersecurity should use globally recognized market-driven standards, guidance, and best practices while avoiding nationally specific or a one-size-fits-all approach to managing cybersecurity risks and threats.
Internet Governance: Who controls and writes the rules governing the Internet is increasingly important. The promise of the digital economy requires the connectivity of the Internet to be free from ill-advised government controls and manipulation but also responsive to stakeholder-driven governance, particularly in forums such as ICANN.
The Building Blocks of the Digital Economy: The U.S. ICT industry is coveted around the world for its ability to innovate and be a significant driving force for economic growth and good jobs. As a result, many governments are actively pursuing policy agendas to foster a homegrown ICT industry. The Building Blocks of Digital Economy campaign offers a positive message on how best to help foreign governments achieve domestic ICT growth while keeping the global digital economy connected and growing.