It is especially the industrialized countries that must make the necessary resources available, from financial support to the transfer of knowledge and technology. To strengthen economic participation in the global South, framework conditions must also be created for the control and regulation of monopolies and their (digital) transactions of physical and intangible goods.
In the past, the European Union has taken various measures and put forward proposals to limit the dominant position of US and Asian companies in the market: from fines in the billions for violations of antitrust regulations to the debate on the divestment of business groups. , going B2B Fax Database through the idea of introducing a digital tax. The new European Union Commission is also making significant progress in that focuses on strengthening the region's competitiveness.
The previous Commission had already made a groundbreaking decision in early 2018, when it declared the General Data Protection Regulation (GDPR) legally binding as part of future trade and investment deals. However, this commendable move does not change the general direction of European trade policy. Its distinguishing feature remains deregulation. The Commission criticized India's plans to store at least one copy of personal data on servers in the country as " unnecessary " and " potentially harmful.
