It's Time for Cross-Border Data Flow Discussions

Every day, many articles are written about data management, data usage, data economy. It is imperative that we gain an up-to-date perspective on data, as it is a very new topic of discussion, from global corporations to governments. The important thing is to be sure of what we don't know, rather than what we know. After all, getting the right information is quite simple at a time when the information is so easily accessible. Of course, here, too, the importance of data management and regulation comes into play.

The world is full of data from every angle. However, opinion leaders (company owners, politicians, etc.) are just beginning to develop a system of rules to manage this data. Many Asian countries are transitioning to a data-driven economy. Much of this data is based on personal data obtained by government agencies.

The Power of Data

While data use can improve our quality and our standard of living, in recent years we have seen cross-border data flows that can bring down governments, change the trajectory of firms, international organizations and agreements, and create other unexpected consequences.

Today, many are concerned about this situation. Politicians want more control and transparency over how data is used. The European Union's General Data Protection Regulation is a good example of how governments can regulate the use of their citizens' data. Some countries even consider such regulations within the framework of legislative and executive.

In order to be prepared, you must first be aware

Some countries do not realize that they are not ready for the new age. Just as they were not aware of the importance of high-tech product production in the previous period. While developing countries are rich in data, authorities may fall short of defending the interests of their citizens without a genuine understanding of the economic and political uses of data.

Now, it is more important to manage the data correctly than the data at hand. By taking the right steps, governments can miss an opportunity to use their data to serve as a lever for economic diversification and economic diversification.

The Importance of International Agreements

Believing that data flow across borders is like the exchange of goods, politicians began to make trade agreements to manage the flow of data between countries. Asian countries are among the countries that have a binding stance on this issue. As of January 1, 2019, the Progressive Pacific Partnership entered into force. With this agreement, the parties agreed that they would not restrict the free flow of data unless it was necessary to achieve important goals such as the protection of public morals and national security. A similar agreement between the EU and Japan will enter into force on 1 February.

Even governments with such agreements on their agenda are not lessening the challenges of managing cross-border data flows. Because under trade agreement rules, governments have to rely on exceptions to protect their citizens from potential data damage, such as malware. However, breaches and disinformation in data management occur on an almost daily basis. So they should not be managed by exceptions.

As a result, if data management is not organized correctly in cross-border data flow, significant confusion can occur. If we want to move towards a data-driven economy, we need a unique perspective and broader discussion on data use and management. In short, we need to think differently on a global level about how to manage data.

*This article has been prepared by compiling the news of South China Morning Post at the link.