This chapter highlights China's successful digital transformation by examining trends in some of the key indicators digital economy's growth. de la Paix, 1211 Geneva 10, Switzerland, Welcome to the United Nations Conference on Trade and Development. The front-runners in harnessing the value of data. UNCTAD, SEGIB, UNITED NATIONS, UNICEF, MEDECINS SANS FRONTIERES, Co-Chair Communication Network OECD Development Center. Global trade in goods decreased 9%, and global trade in services decreased 15%. 4 September 2019: The UN Conference on Trade and Development (UNCTAD) released a report finding that "concerted global efforts are required" to better distribute gains from the digital economy and minimize the digital divide. 2019 : value creation and capture : implications for developing countries. This of course comes on top of other EU moves to weaken U.S. tech leadership, including digital taxes, more aggressive enforcement of the EU's General Data Protection Regulation, increased national antitrust enforcement, and overlapping national ex ante regulation of platforms. Digital Economy Report 2019 issued first time by UNCTAD. The digital economy's contribution to China's GDP growth in 2016 was around 60 per cent, and henceforth it has become the new driver of its economic growth. The Chinese model emphasizes control of data by the Government, while the European Union favours control of data by individuals on the basis of fundamental rights and values. As the world strives to implement the 2030 . Available online (viewed 28 Oct. 2019). Format; BibTeX: View Download: MARC: View . SOUNDBITE (English) Shamika Sirimanne, Director, Division of Technology and Logistics, United Nations Conference on Trade and Development (UNCTAD): "When we normally talk about development, we always talk about developed countries and developing countries, and that divide does not apply to the digital economy. These are early days in the digital era and there are still more questions than answers about how to deal with the . The Bank of Greece, EU, IMF, and others estimated the Greek economy contracted by 10% in 2020. . "Modelling the world McDaniel, C. and Norberg, H. C. (2019), economy at the 2050 horizon", Economics "Can blockchain technology facilitate of Transition 21(4): . This would bring global FDI below $1 trillion for the first time since 2005. 3. Washington, DC: The World Bank. POLICY, CREATIVE Data have become a key strategic asset for the creation of both private . According to the United Nations Conference on Trade and Development (UNCTAD) Digital Economy Report 2019, the digital economy can be broken down into three main components: (i) core aspects which . This first edition of theDigital Economy Report previously known as theInformation Economy Report examines the scope for value creation and capture in the digital economy by developing countries. The first UNCTAD Digital Economy Report 2019 is published online, an analysis ofValue Creation and Capture: Implications for Developing Countries. Digital Economy refers to the full range of economic, social and cultural activities supported by the Internet and related information and communications technologies. The trend accelerated during the COVID-19 pandemic and global Internet bandwidth saw its largest one-year increase since 2013. 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