World Trade Report 2020 explores increasing use of policies to foster digital innovation
The World Trade Organization (WTO) issued its annual flagship publication the World Trade Report 2020, which explores the role of innovation and technology policies in an increasingly digitalised world economy and explains the role of the WTO in this changing context. The report outlines the use of government policies in the digital era and signposts the importance of countries working together to promote positive global outcomes while overcoming negative spillover effects. It further argues against a one-size-fits-all approach and suggests government interventions that hinge on sound expectations of what technological advancements can be achieved that are in line with the country’s comparative advantage. In this vein, the report underscores international co-operation given the positive and negative impact government policies may have on other countries.