Global Trade's Big Future: Digital Services

©iStock/Chainarong Prasertthal According to a new World Trade Organization report, the growth of cross-border digital trade flows — like e-commerce, video streaming, games and apps — increased four-fold since 2005 and are now valued at some $3.8 trillion. That accounts for more than half of all services trade worldwide. “This gives us a bit of an indication of where world trade is heading,” says WTO Chief Economist Ralph Ossa told Bloomberg in a recent interview. “The future of trade is in services, particularly digitally delivered services.” Read more to appreciate how the golden age for electronic commerce is already upon us . Related to this, read research fellow Kati Suominen's report, " Trust in trade:  Challenges to the global convergence on digital standards ," for the Hinrich Foundation.