Digital transformation is reshaping the global economy at a rapid scale, generating jobs and access to new markets, boosting education, increasing worker productivity, and much more. With support from the World Bank Group, the government of Guinea-Bissau, together with the private sector and civil society, recently assessed its digital economy readiness to examine how the country can best harness digital opportunities across sectors.
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International Economics: IB Economics
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A collection of articles relating to the 'international' elements of Economics and relating to IB, Pre-U and A-Level Economics.
Curated by
Graham Watson
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Burkina Faso, a landlocked country, is solving some of its toughest connectivity problems with new infrastructure, including a critical fiber optic network reaching the border with Ghana. Access challenges and cost to use internet services have been reduced, while opportunities across digital education, training and jobs have increased.
Graham Watson's insight:
It seems that Burkina Faso has solved some of its toughest problems in relation to its digital infrastructure, in partnership with the World Bank, with a new fibre optic cable reaching the Ghanaian border and improving digital services. This should, in theory, serve as a significant boost to the digital economy in the country, create jobs and enhance development. 
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Despite lockdown surge the firm’s Luxembourg unit made a €1.2bn loss and therefore paid zero corporation tax
Graham Watson's insight:
Just read this: tax avoidance on a grand scale. Much as I'm an Amazon customer, I'd love to hear a justification of this that goes beyond the "it's legal" argument.
It's also horribly immoral, and means that the tech giant is competing with other retailers on a far from even playing field.
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The COVID-19 pandemic has highlighted the importance of digital technologies in African countries, and the latest Africa’s Pulse provides new evidence on how digital is enhancing the productivity of existing jobs and creating new jobs, for people of all skill levels and backgrounds. This is particularly important as the region looks toward economic recovery post-pandemic, and many Sub-Saharan African countries are making tremendous investments to advance digital adoption and build skills.
Graham Watson's insight:
Excellent World Bank clip looking at how Africa's recovery will need to focus on upskilling the work force, particularly women and girls, in new digital technologies.
The widespread adoption of the latest technologies have the capability of enhancing development post-pandemic.
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The COVID-19 pandemic has severely affected Uganda’s economy and livelihoods. A new economic analysis says the higher use of digital technologies during the country’s three-month pandemic lockdown shows great potential to support faster economic recovery and strengthen resilience beyond the crisis.
Graham Watson's insight:
This World Bank clip looks at the impact of the coronavirus pandemic on an developing economy, arguing that it represents the most significant shock since the Second World War, and that it has disrupted the global economy in an unimaginable fashion.
However, it has also pushed economies towards digital solutions, both developed and, in this case developing economies, such as Uganda.
It highlights the impact of the pandemic on government spending, and suggests that digital platforms have the potential to aid economic recovery and generate sustainable development going forward.
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In Malaysia’s journey towards achieving greater economic progress, the country could take further steps to unlock the full potential of its digital economy
Graham Watson's insight:
The future for Malaysia is digital: this article highlights the role that the digital economy will play in future development and its impact on potential growth.
There are lots of interesting ways into this clip! Not least reform of the broadband network.
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The European Commission has revealed its plan for a 3% tax on the revenues of big technology groups in response to pressure from EU governments, which wan
Graham Watson's insight:
The FT looks at the proposed 'digital tax' to be levied on giant tech companies. However, in watching the clip, I think I've discovered an obvious loophole. I suspect that the first thing the big tech companies will do is split themselves up into lots of smaller service providers, creating 'national' companies and argue that they are no longer the behemoths that they once were. I'm sure that the EU will have thought of this, but cue legal wrangling and the only winners? Lawyers.
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In collaboration with the Regional Center for the Promotion of Micro, Small and Medium-sized Enterprises (CENPROMYPE), IFC conducted a study that evaluated the digital ecosystem within Central America, in which it surveyed the impact of the adoption of digital technologies of firms within the region. The survey demonstrated the imperative of a digital transformation in Central America and highlights the opportunities as well as the challenges the region faces in regard to its digital transformation.
Graham Watson's insight:
This International Finance Corporation clip highlights the importance of the burgeoning digital economy to the growth prospects of Central America, with a particular focus on small- and medium-sized firms. It illustrates the opportunities and challenges that going digital pose to these economies and the developmental potential.
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Digital transformation matters for The Gambia, as unlocking its dividends can help the country address its fragility, spur inclusive and sustainable growth and job creation (critical for its young population), boost its resilience to emergencies and bridge the existing digital divide. Which is why The Government of The Gambia, with the support of the World Bank’s Digital Economy for Africa initiative, is ramping up its efforts to lay the foundations to make the “smiling coast of Africa” a digital nation. This video presents key findings of the World Bank’s and IFC’s joint journey to find out what holds back the development of key building blocks of a thriving digital economy in the country and what could be done to strengthen them.
Graham Watson's insight:
This World Bank clip looks at the potential for the growth of the digital economy to boost growth in sub-Saharan Africa, and note that there could be a substantial boost to economic growth.
This clip focuses on the digital economy in The Gambia, one of Africa's more unusual economies - the country's shape reflects the artillery range of British gunboats. It looks at the need for the appropriate digital infrastructure, and the need to leapfrog existing technologies.
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Ireland will resist global corporate tax rate, says finance minister | Global economy | The Guardian
Paschal Donohoe says Dublin will not accept reforms that affect its ability to undercut its rivals
Graham Watson's insight:
And so it begins - as I said it would - Ireland becomes the first country to come out and state that it's not going to comply with the President Biden initiated moves to raise the rate of corporate taxation, arguing that as a sovereign nation such a move will cost it 20% of its tax revenues.
The problem is that even though Ireland's headline rate of corporation tax is 12.5%, because the global tax system hasn't kept pace with digital innovation, the effective rate of tax faced by companies like Apple is less than 1%.
Economic theory is sometimes a good way of understanding the world at large, you know...
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As the COVID-19 crisis has changed the work landscape across the world, African countries now have the opportunity to harness the power of digital technologies, and invest in the future of Africa’s workforce. With Africa’s young population driving innovation across the continent, they will help to create more job opportunities, and will need the support of forward-thinking governments and the private sector to make their vision a reality.
Graham Watson's insight:
It seems that the pandemic is going to accelerate sub-Saharan Africa's move towards a digital future, with a number of firms looking to innovate in the post-pandemic world.
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In a truly globalised world, a disease such as coronavirus easily spread across the globe and quickly brought entire economies to a halt.
Graham Watson's insight:
This Telegraph article looks at the benefits and drawbacks of globalisation. Will coronavirus reverse so-called hyper-globalisation, as the world reacts to increased the interdependence that fostered the coronavirus pandemic?
Interestingly, Ian Goldin of Oxford University suggests that digital traffic, and attempts to develop a coronavirus vaccine are proof that we need globalisation as much as ever.
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10,000 miles outside Silicon Valley, start-ups are booming in Nairobi, Kenya. Take a tour of Nairobi Garage – Africa’s largest co-working space – and see for yourself
Graham Watson's insight:
Entrepreneurship is vital to a growing economy, and this International Finance Corporation clip highlights the fact that digital entrepreneurs are playing a growing role in the development of Kenya.
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The world’s biggest technology firms face an extra €5bn (£4.4bn) tax bill each year to operate in the EU as governments face an "even-bigger black hole" in their finances.
Graham Watson's insight:
The EU has decided to crack down on tech firms, introducing what it calls an interim tax for digital activities. The tax is designed to compensate for the fact that “Our pre-internet rules do not allow our member states to tax digital companies operating in Europe when they have little or no physical presence here” and instead is looking to tax companies "with global revenues of more than €750m and EU revenues above €50m" at 3% on their total revenues. It's unusual: it's not a perfect theoretical solution, but it's an attempt to try and claw back some of the tax revenues that more conventional firms pay, and that they feel their digital rivals get away with not paying.
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This World Bank clip demonstrates how the digital economy can contribute to enhanced developmental prospects, in this case in Guinea-Bissau. Not only can in transform opportunities in education and healthcare, but it can also enhance participation in civil society.