The future of international business

“Global South” is a vague term referring to countries with very different back stories and prospects. Growth in the Global South can be divided between “endogenous” dynamics and “exogenous” drivers. Economists like Paul Krugman have dismissed the old idea that the world’s emerging economies are destined to specialise in low value-added production. The expansion of Global South middle classes is also significant because of the kinds of products that households purchase when they shift out of poverty. In international business, data analytics and translation services are already reducing cross-border barriers to trade. It remains that AI’s further development in this area still faces a number of challenges. Data has turned into a factor of prime importance in modern international businesses due to the economies of scale it generates. Managing cross-border data flows intimates a need to subject this whole domain to regulations that are also global in nature.