Global | Rebuilding trust in the digital age

Summary

COVID-19 dealt a heavy blow that moved us firmly into the digital age. Thus, in 2021 it will be crucial to shape and strengthen the agreements and institutions to thrive in such a landscape. And there are various obstacles to overcome in that regard.

Key points

• Key points:
• The pandemic has exacerbated distrust in globalization processes compared to unilateral initiatives.
• In the absence of multilateral initiatives, there is currently a proliferation of bilateral treaties that risk fomenting a cold war between China and the United States.
• Unregulated data trading is putting people's privacy at risk, a new and highly complex factor to be negotiated between countries.
• There is a dearth of knowledge and no consensus around how to strengthen competitiveness and competition in a digital world that is giving rise not only to new products, but to many new business strategies as well.
• Identifying and overcoming all the obstacles to moving forward together will be one of the major challenges that will determine the long-term success of this fledgling new year.

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