Globalization and digitalization necessitate updated international economic rules and enhanced global coordination. New business models and technologies have provided numerous benefits but raised some competition concerns. As economies become more digitalized, governments look to modernize rules on taxing firms and activities appropriately. Existing international rules on subsidies, state-owned enterprises and government procurement need reform to deliver a global, level playing field.
The ongoing COVID-19 pandemic heightens these challenges and introduces new considerations. As governments intervene to shelter workers and firms from the economic fallout, stakeholders must insist on transparency. As consolidations and mergers rise in the sectors worst affected, consumer benefits must be maximized and harms minimized. Increased use of digital technologies during and, potentially, after lockdowns will prompt governments to rethink regulation concerning them.
This project explains and contextualizes these issues for government and business leaders, brings together diverse stakeholders to challenge prevailing notions, and provides policy recommendations. It covers:
- Subsidies and industrial policy: how to pursue economic and social goals while providing a competitive global playing field for market- and state-driven enterprises
- Competition and globalization: how to preserve the benefits of global and digital business, while avoiding anti-competitive harm
- Tax and globalization: how to tax fairly in a recovering, globalized, digitalized economy