Blog - October 12, 2021

The importance of data and information in the era of globalization

The web of global economic connections is growing deeper, broader, and more intricate. Yet much of the public discussion surrounding globalization is stuck on the narrow topic of trade surpluses and deficits. This lens fails to take into account the new and more complex reality of a digitally connected global economy. While the global goods trade and financial flows have flattened since the Great Recession, cross-border flows of data are surging. They now tie the world economy together just as surely as flows of traditional manufactured goods.