Digital Economy

The Digital Economy encompasses all economic activity driven by digital technologies, including e-commerce, data-driven innovation, and platform-based business models. It represents a significant shift from traditional economic frameworks, as data becomes a key asset, and technology alters how goods and services are produced, exchanged, and consumed. In this new economy, global trade networks increasingly depend on digital infrastructure and critical technologies while technology continues to redefine labor markets and disrupt established industries. Recent developments driving changes to the global economy in which Singapore is a crucial node include:

The proliferation of new trade agreements (e.g., DEPA, USMCA, RCEP, CPTPP, and IPEF) that govern cross-border data flows, e-commerce, platform interoperability, and emerging frameworks for technology supply chain resilience.
Regulatory efforts targeting major tech companies for anti-competitive practices, data monopolies, and market concentration.
The growth of blockchain technologies, cryptocurrencies, and decentralized finance (DeFi), raising questions about regulation, taxation, and fraud prevention.
Debates around labor and employment in the gig economy, including rights for platform-based workers and legal classifications of digital labor.
The increasing importance of strategic and economic competition between global superpowers pursuing divergent visions of the global digital economy, particularly in the semiconductor sector, AI capabilities, and quantum computing.

This cluster focuses on the legal frameworks and governance mechanisms underpinning the digital economy, addressing issues such as digital trade, competition law, intellectual property, and the regulation of platforms that dominate the global market. The digital economy is central to economic growth, yet its governance remains fraught with challenges of power imbalances, cross-border complexities, and rapidly evolving business models.