The Internet Economy and the G20
“We need an ‘eWTO’ proposed by business and supported by governments that will bring the benefits of the internet to developing countries, women and young people.”
Jack Ma, Founder and CEO, Alibaba.com
"The Internet economy is expected to reach $4.2 trillion in 2016. If the Internet were a nation, its economy would be the fifth largest in the world. The growth of the Internet economy is on par with China’s growth rate. If the Internet were a sector, it would have a greater weight in global GDP than agriculture or utilities. Emerging digital technologies such as social, mobile, analytics and cloud that has the Internet as its backbone have become the new forces acting on competitiveness, growth and job creation. Arguably, no other emerging trend has been as impactful in transforming the global economy in recent years.
Digital technologies bring a new set of economic and regulatory challenges. To name a few, cybersecurity, regulation of content, cross-border data flows, and protection of personal data are some of the emerging international regulatory challenges..."