Digital economy need of hour to meet emerging global challenges

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Fully equipping Pakistan with digital economy is now need of hour to meet the ever increasing emerging global challenges through result oriented digital connectivity with advanced countries especially with China.

Speaking as a keynote speaker at a seminar on “Global Digital Governance”, which held under the aegis of Gold Ring Economic Forum (GREF) on Sunday Coordinator to Federal Tax Ombudsman Meher Kashif Younis said that China, the United States and the European Union with respective comprehensive strengthen and sci-tech capabilities,have become the three poles in the global digital geopolitical landscape.

While China and the European Union have a noticeable gap with the US in overall strength,he said adding that with regard to the size of the digital economy, the US ranked first ($13.1trillion) followed by China ($5.2trillion) Germany($2.44 trillion) Japan,($2.39 trillion)the UK ($1.7trillion) and France ($1.17trilliin). He said Chinese tech giant Huawei is breaking the US monopoly in a number of high tech fields such as communications and chip designs.

He said against such a backdrop, China-EU relations have great strategic importance as the US protected its own networks without caring other players interests.

He said as the power of digital technologies quietly but fiercely shocks existing boundaries and defenses,the reshaping of international rules and order will gradually unfold and proceed on the global stage.—APP

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