‘The Black Pit:’ Power and Pitfalls of Digital FDI and Cross-Border Data Flows

Abstract

In today's data-driven economy, data have been dubbed as the new oil. Hence, a close relationship is shared between the increasing amounts of international investments and the increasing volumes of cross-border data flows. The aim of this article is to discuss the legal aspects of the new data paradigm in the international economy and place this discussion in the larger framework of globalization and the Liberal International Order. The central thesis of the article revolves around the crucial role played by domestic laws in the fragmentation of international investment law. The article further discusses the interplay between national and international legal landscapes and how the changing nature of the Liberal International Order is affecting the flow of data across borders. In this context, it also discusses the issues that are presented by a lack of any comprehensive international framework governing Cross-Border Data Flows. The need to update existing agreements and laws in order to factor in digital investment is also highlighted.

Analysis of Regional Competitiveness of China’s Cross-Border E-Commerce

“…Therefore, indices A1-A14 mainly explain key factor 1, indices A15-A21 mainly explain key factor 2, and indices A22-A29 mainly explain key factor 3. According to the GEM model, these sets correspond to the basic competitiveness factors, enterprise competitiveness factors, and market competitiveness factors, respectively, indicating that the approach meets the requirements of the model [92,93].…”

Digitalization as a Factor of Production in China and the Impact on Total Factor Productivity (TFP)

“…Often referred to as "the new oil," data's critical role in decision-making, innovation, and strategic foresight across various sectors is undeniable [11]. Despite its importance, the role of data transcends mere usage; it involves the transformation of these data into tangible economic value through effective digitalization practices [12][13][14], which formed the concept of the digital economy [15,16]. For instance, data analytics has revolutionized finance through enhanced quantitative trading, while real-time data from IoT devices has significantly improved predictive maintenance in manufacturing [17][18][19].…”

Alienated Twins – The Overlooked Private Law Dimension of Global Trade and Investment Governance

“…Global trade and investment scholarshipas published inter alia in the World Trade Review and encompassing political science, economics, and legal researchtends to focus on (1) why states opt for liberal or protectionist trade and investment policies (Hiscox, 2002;Rickard, 2015;Kim and Osgood, 2019); (2) why the design of Preferential Trade Agreements (PTAs) and International Investment Agreements (IIAs) varies over time and across country dyads (Allee and Peinhardt, 2014;Dür et al, 2014;Claussen, 2022); (3) whether such treaties and policies are legally compatible with the overarching principles of the World Trade Organization (WTO) and international economic law (Mavroidis, 2015;Pinchis-Paulsen, 2020;Hoekman et al, 2023); and (4) evaluate the complex economic, political, security, and environmental effects of these policies and treaties on societies (Bernauer and Nguyen, 2015;Roberts et al, 2019;Yildrim et al, 2020;Aggarwal and Reddie, 2021;Chaisse, 2023;François et al, 2023). Trade and investment scholarship has been highly productive over recent decades and has developed into a truly interdisciplinary and dynamic research enterprise.…”