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And while services sold directly to consumers tend to be restricted by regulations, services that support the operations of companies — such as accounting, human-resource management, IT support, legal services, research and development, marketing and the like — are generally less constrained. So the barriers to trade in such “intermediate services” are not due to government policies but are simply due to the difficulty of using foreign teleworkers — and digital technology is lowering these barriers at an exponential pace.\n\nThe changes that came with telework during COVID accelerated this trend by 5 to 10 years. The use of artificial intelligence is rapidly making domestic and foreign workers better substitutes than they were in the past. Simultaneous speech translation, for example, will mean that most emerging-economy workers will be able to speak (via an app) good enough English to deliver services to clients anywhere. Generative AI will accelerate this by distilling the experience of rich-nation service workers into an app which can be given to emerging-economy service workers in order to “level up” their skills.\n\nPutting these factors together, it is clear that the future of trade lies in services. Barriers are radically higher for services than goods, but falling radically faster, and, unlike farm and factory goods, there is no capacity constraint in emerging economies when it comes to intermediate services. The demand for intermediate services is huge in rich nations and the supply of appropriate workers is huge in emerging economies, since they are already providing these services in their local economies. The growth of service exports from emerging markets has been remarkable: since 2016, emerging economies have seen their service exports grow far faster than those from high-wage nations.\n\nThis trend is now reshaping the economic development pathways of these countries, offering new opportunities for growth and job creation. Just as Bengaluru thrived on service exports, I believe that cities ranging from Nairobi and Cape Town to Bogotá and Buenos Aires are poised to become centres of service exports and thus drivers of their nations' economic prosperity and growth.\n\nThis new development path will require a shift in mindsets, since services have hitherto played almost no role in development thinking. Services were viewed as incapable of sparking a growth take-off in the way manufacturing could. This is strange, since most of the growth in today’s rich nations is driven by the expansion of service sectors in cities, not factories in the countryside. Overall, national-development strategists in the digital era may do well to look to urban economics rather than development economics for inspiration and guidance.\n\nCompanies should adapt their strategies to leverage the benefits of digital technologies and global labour markets. This change in world trade will release a tidal wave of low-cost, highly skilled workers who have so far been forced to work for low wages in their local economy. Investing in digital infrastructure, enhancing workforce skills and fostering innovation in service delivery will be crucial for businesses to remain competitive in the evolving global trade landscape.\n\nPolicy-makers, on the other hand, need to create supportive regulatory frameworks that facilitate the seamless exchange of services across borders while ensuring fair competition and protecting domestic labour markets. This may include addressing issues related to data privacy, cybersecurity and the taxation of digital services. Moreover, policies that support workforce retraining and upskilling will be essential to help workers transition to new roles in the digital economy.\n\nThe transformative shift towards service-oriented globalisation presents both challenges and opportunities for businesses and policy-makers. Companies should adapt their strategies to leverage the benefits of digital technologies and global labour markets. Investing in digital infrastructure, enhancing workforce skills, and fostering innovation in service delivery will be crucial for maintaining competitiveness in the evolving global trade landscape. Policy-makers, meanwhile, need to create supportive regulatory frameworks that facilitate the seamless exchange of services across borders while ensuring fair competition and protecting domestic labour markets. This includes addressing issues related to data privacy, cybersecurity and the taxation of digital services. Policies that support workforce retraining and upskilling will be essential to help workers transition to new roles in the digital economy.\n\nTo conclude, the future of globalisation lies in services, not goods. Embracing this transformation is key to harnessing the full potential of the new era of globalisation and ensuring inclusive growth and development. The \"emerging market miracle\" will continue, driven by services rather than industry and commodities. The future is arriving faster than most believe, driven by exponential advances in digital technology and AI. Now is the time to decide what the future will hold and make the most of the opportunities that unfold."},"titleRich":{"id":"66d54370ff7123e8604dc89d_titleRich","text":""},"subtitleRich":{"id":"66d54370ff7123e8604dc89d_subtitleRich","text":""},"openGraph":{"title":null,"description":{"plain":"Digital technology has had a profound impact on modern society, permeating nearly every aspect of our lives and economies. 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GESDA is committed to protecting the privacy of its stakeholders, communities, and other contacts.\n\n## Scope\n\nThis privacy policy applies to all personal data processed by full-time and part-time employees, volunteers when acting on behalf of GESDA, contractors and partners doing business on behalf of GESDA, as well as all legal entities, all operating locations in all countries, and all business processes conducted by GESDA.\n\n## Information Collected\n\n#### What information do we collect?\n\nGESDA collects the following personal data in line with the use purposes explained in a subsequent section:\n\n  * Your name and contact details\n  * Online profile data/usage\n  * Contact information\n  * Social media profile information\n  * Education and professional information\n  * Registration and participation in GESDA events and activities - Information about service usage\n  * Cookies\n  * Authentication data\n  * Location information\n  * Author and peer review information\n  * Other information you upload or provide to us\n\n#### How do we use your information?\n\nGESDA uses (and, where specified, shares) your personal information for the following purposes:\n\n  * To provide support or other services. GESDA may use your personal information to provide you with support or other services that you have ordered or requested. GESDA may also use your personal information to respond directly to your requests for information, including registrations for webinars, or other specific requests, or pass your contact information to the appropriate GESDA supplier or reseller for further follow-up related to your interests.\n  * To provide information based on your needs and respond to your requests. GESDA may use your personal information to provide you with notices of new product releases and service developments.\n  * To administer products. GESDA may contact you if you make use of (digital) products we offer, to confirm certain information (for example, that you did not experience problems in a download process). We may also use this information to confirm compliance with licensing and other terms of use and may share it with your company/institution.\n  * To assist in your participation in GESDA activities. GESDA will communicate with you, if you are participating in certain GESDA activities such as the GESDA Summit, authoring or reviewing a GESDA article, or GESDA humanitarian activities. GESDA may send you information such as update messages related to those activities (such as but not limited to the event's content, and event logistics)\n  * To update you on relevant GESDA events and opportunities. GESDA may communicate with you regarding relevant GESDA events and opportunities.\n  * To protect GESDA content and services. We may use your information to prevent potentially illegal activities and to enforce our terms and conditions.\n  * To get feedback or input from you. In order to deliver products and services of most interest to our stakeholders, from time to time, we may ask you to provide us input and feedback (for example through surveys).\n\n#### How can you control your information?\n\nYou can control the information we have about you and how we use as follows:\n\n  * If you are a registered guest for the GESDA Annual Summit 2021, any request for review, revise or correction of your personal data can be sent to summit@global.gesda specifying your request.\n\n#### Personal data about minors and children\n\nGESDA does not knowingly collect data from or about children under 16 without the permission of parent(s)/guardian(s). If we learn that we have collected personal information from a child under 16, we will delete that information as quickly as possible. If you believe that we might have any information from or about a child under age 16, please contact us.\n\n#### How will you know if the Privacy Policy is changed?\n\nGESDA may update its Privacy Policy from time to time. If we make any material changes you will be notified by means of a notice on our website prior on the date the change becomes effective. We encourage you to periodically review this page for the latest information on our privacy practices.\n\n## Technical And Regulatory Information\n\n#### Logging practices\n\nGESDA automatically records the Internet Protocol (IP) addresses of visitors. The IP address is a unique number assigned to every computer on the internet. Generally, an IP address changes each time you connect to the internet (it is a \"dynamic\" address). Note, however, that if you have a broadband connection, depending on your individual circumstance, the IP address that we collect may contain information that could be deemed identifiable. This is because, with some broadband connections, your IP address doesn't change (it is \"static\") and could be associated with your personal computer.\n\nAs well as recording the IP addresses of users, GESDA may also keep track of sites that users visited immediately prior to visiting GESDA's website and the search terms they used to find it. We keep track of the pages visited on GESDA's website, the amount of time spent on those pages and the types of searches done on them. Your searches remain confidential and anonymous. GESDA uses this information only for statistical purposes to find out which pages users find most useful and to improve the website.\nGESDA also captures and stores information that you transmit. This may include:\n\n  * Browser/Device type/version\n  * Operating system used\n  * Media Access Control (MAC) address\n  * Date and time of the server request\n  * Volume of data transferred\n\n#### External links behaviour\n\nSome of the links on GESDA's websites link to other sites created and maintained by other public- and/or private-sector organizations. GESDA provides these links solely for your information and convenience. When you transfer to an outside website, you are leaving the GESDA domain, and GESDA's information management policies no longer apply. GESDA encourages you to read the privacy statement of each external website that you visit before you provide any personal data.\n\n#### Cookies and web beacons\n\nCookies and web beacons are electronic placeholders that are placed on your device by websites to track your individual movements on that website over time. GESDA uses both session-based cookies (which last only for the duration of the user's session) and persistent cookies (which remain on your device and provide information about the session you are in and waits for the next time you use that site again).\n\nThese cookies and web beacons provide useful information to GESDA, enabling us to recognize repeat users, facilitate the user's access to and use of our sites, allows us to track usage behavior, and to balance the usage of our websites on all GESDA web servers.\nTracking cookies, third-party cookies, and other technologies such as web beacons may be used to process additional information, enable non-core functionalities on the GESDA website and enable third-party functions (such as a social media \"share\" link). We may also include web beacons and other similar technology in promotional email messages to determine whether the messages have been opened.\n\n#### Do Not Track (DNT)\n\nThe online advertising industry has self-regulatory initiatives designed to provide consumers a choice in the types of ads they may see online and to conveniently opt-out from online behavioral ads served by some or all of the companies participating in these programs. Our websites do not respond to DNT consumer browser settings.\n\n#### Responses to legal requests\n\nGESDA reserves the right to share your information to respond to duly authorized information requests of governmental authorities or where required by law.\n\n#### Your data rights\n\nGESDA complies with all applicable data privacy laws and regulations including, but not limited to, the General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). Under these laws and regulations, you may have certain rights to your data. Should you wish to exercise any of these rights, please send an email request to info@gesda.global with \"Data Privacy Request'' in the subject line and in the email please identify the specific privacy right you request assistance with. Please note additional information may be requested prior to fulfilling a request and that GESDA reserves the right to charge a fee, where permitted, to cover the cost of certain requests.\n\n#### How do I contact you if there is an issue?\nIf you have any questions or concerns about this Privacy Policy or about the use of your personal information, please feel free to contact us by email at info@gesda.global\n\n#### Contact Information\nGeneva Science and Diplomacy Anticipator (GESDA) c/o Fondation Campus Biotech\nChemin des Mines 9\n1202 Geneva\n+41 58 201 02 61\ninfo@gesda.global\n"},"welcomeUrl":"https://radar.gesda.global/app/welcome","welcomeTitle":"Welcome to GESDA and thanks for joining us! ","invitationAction":"join the GESDA Radar Website community","setupCompletionMessage":null,"languages":[],"brandColors":[],"showLogin":true,"showShareMenu":null,"showFollowMenu":null,"showPlatformLogin":null,"showContactUs":null,"loginLabel":"Member login","platformLoginLabel":null,"headerButtons":[{"id":"6a8fc65ae69c51827b086a0b","name":"Gesda Public Website link","slug":"gesda-public-website-link","page":null,"label":"Public website","url":"https://www.gesda.global","isDownload":null,"color":null,"icon":null},{"id":"68eda7e8501d12182c0ef374","name":"Ai Modal Button","slug":"ai-modal-button","page":null,"label":"RadarAI","url":null,"isDownload":null,"color":null,"icon":{"id":"6789e346a53c1b39754b99bd","name":"AI Lower Case Icon Glyph","slug":"ai-lower-case-icon-glyph","component":"AiLowerCaseIconGlyph"}}]},"includeProfile":true,"disableProfileEditing":false,"dynamicEntityTypeNames":[],"profilePath":"/app/profile","welcomePath":"/app/welcome","id":"66d54370ff7123e8604dc89d","slug":"the-future-of-trade","entityPath":"/publications/the-future-of-trade","name":"The Future of Trade","openGraph":{"title":null,"date":"2026-09-14T03:16:45.26","description":{"plain":"Digital technology has had a profound impact on modern society, permeating nearly every aspect of our lives and economies. 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