US companies wrestle with new European privacy rules -- FT
On the day when Europe's new General Data Protection Regulations come into effect, the FT reports that US companies are just woking up to their responsibilities under the new privacy laws. But the proof of the laws will be in their enforcement, and US companies understand that they need to prioritize prosecution: "They will prioritize, one, the largest potential violation, and two, what might garner publicity," Adam Schlosser, the lead of our digital trade and data flows project.
St. Petersburg Economic Forum focussed on issues of digitalization and technology -- Vedimosti [Russian]
Børge Brende, the Forum's President, in St Petersburg emphasizes the importance of technological transformation. "Anyone who is interested in understanding global issues wants to represent what the position of Russia is for them," and the St. Petersburg Economic Forum (SPIEF) presents a unique opportunity to clarify this position.
South Korea's labour relations are a challenge to competitiveness -- Nate
South Korea's strong competitiveness scores are undermined by dire relations between capital and labour. The country's scores in the Global Competitiveness Report reflect that.
South Korea scored relatively high on pay and productivity (15th) and capacity to retain talent (29nd), although slipping six and nine notches respectively from a decade ago.
It ranked near the bottom in terms of cooperation in labor-employer relations (130th) to be followed only by Uruguay, Nepal, Haiti, Chad, Croatia, Trinidad and Tobago, and South Africa.