Development and Implementation of Adaptive Trade Policy in the Era of Digital Globalization Based on Virtual Exchange of Intellectual Knowledge

Chernyshenko, Vsevolod; Vertakova, Yulia; Mkrttchian, Vardan

doi:10.4018/978-1-7998-1104-6.ch008

Cited by 6 publications

(2 citation statements)

References 15 publications

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“…Western nations like the United States are now using nationalist economic policies in order to promote their own sectors and make them more competitive globally. In other words, economic nationalism is influenced by a country's openness to foreign investment (Chernyshenko, Vertakova and Mkrttchian, 2020).…”

Section: Introductionmentioning

confidence: 99%

The Effects of Digital Globalization on Economics and Society

Burlacu¹,

Diaconu²,

Mocanu³

et al. 2022

New Trends in Sustainable Business and Consumption

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In the minds of some scholars, digital globalization is a new kind of globalization, while others see it as a type of globalization that needs to be steered and managed so that institutions and corporations can work together to tackle the challenges of digitalization. All facets of economic and social life have been digitized. Globalization is being spurred on by technical advancements and scientific problems in an increasingly competitive marketplace. Globalization has been argued to have ceased after the 2008 financial crisis because of a decline in global trade in products and a dramatic decrease in cross-border capital flows. Studies demonstrate that globalization is not slowing down, but rather entering a new phase marked by an increase in the flow of data and information. More than a decade later, the new global crisis produced by the COVID-19 pandemic is strengthening the role of information and communication technologies in both the business and social life of the world. It is the purpose of this study to emphasize the key characteristics of digital globalization that have a significant impact on the economic and social lives of today and tomorrow. The primary research approaches are document analysis and literature review. These are multiplied by two if we conduct a literature review on IT tools. A number of characteristics emerged from the documentary research that allow us to conclude that global digitalization can have a significant impact on the economy and society.

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Section: Introductionmentioning

confidence: 99%

The Effects of Digital Globalization on Economics and Society

Burlacu¹,

Diaconu²,

Mocanu³

et al. 2022

New Trends in Sustainable Business and Consumption

View full text Add to dashboard Cite

show abstract

“…As a result, many Western nations, including the United States, are beginning to use nationalist economic policies to promote their own industries and make them more competitive globally. In short, the economic openness of a country affects its economic nationalism (Chernyshenko et al, 2020).…”

Section: Introductionmentioning

confidence: 99%

Digital globalization and its impact on economic and social life

et al. 2021

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Research background: While some researchers see digital globalization as a new form of globalization, others liken digitalisation to the globalization that needs to be managed and driven so that institutions and businesses can meet the challenge of digitalisation together. Digitization has encompassed all aspects of economic and social life. In increasingly fierce competition, technological advances and the challenges of science are becoming catalysts for globalization. There is research that suggests that conventional wisdom would say that globalization has stopped arguing that global trade in goods has flattened and cross-border capital flows have fallen sharply since the economic crisis of 2008. However, research shows that globalization is not reversing but enters a new phase that could be defined by a sustained increase in data and information flows. More than a decade later, the new global crisis caused by the COVID-19 pandemic is strengthening the role of information and communication technologies in both the economy and social life. Purpose of the article: The aim of this paper is to highlight the main characteristics of digital globalization that have a major impact on current and future economic and social life. Methods: Documentary analysis and review of the literature are the main research methods. These are doubled by a bibliographic analysis of IT tools. Findings & Value added: Following the documentary analysis, we identified a series of characteristics that allow us to consider that global digitalization can become the determining factor of the economy with direct implications in social life.

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