As a result of rapid advancements in digital technologies over the course of the last decade, European data security and privacy laws became rapidly outdated and ineffective. Following a number of high profile security incidents and privacy scandals, the European-wide General Data Protection Regulation (GDPR) came into effect in May of 2018. The regulation, however, does not only apply to businesses within the EU, but also to any company which controls or processes any data pertaining to European citizens. This global scope consequently raises a number of concerns regarding the global effects these new laws may have, their applicability outside the West, and whether the laws will set a new golden standard for data and security practices. With a focus on business, this thesis uses qualitative methods, particularly Critical Discourse Analysis in order to examine the extent to which the GDPR may create a fairer and more inclusive regulatory framework in the global digital economy. A variety of diverse reports, blogs, and academic papers concerning data, privacy, innovation and other relevant elements were sampled in order to understand the current conflicts and debates within the data sphere, as well as unpack the cultural assumptions that behind the GDPR. Results indicate that a global improvement of privacy standards and data practices is becoming increasingly evident and urgent. However, while the necessity for GDPR, and similar regulation is understood, there are a number of concerns still hindering its effectiveness, such as digital inequalities, cultural differences, as well as corporate and political influence. Further, according to the media, while enterprises of all sizes which fall under the scope of the GDPR will be affected, the most impact will fall on tech giants and large corporations. However, the debate as to whether this impact will be beneficial or detrimental is still ongoing. Finally, the findings indicate a number of long term, global effects triggered by the regulation and the resulting discourse, such as changing attitudes towards privacy and transparency.

Additional Metadata
Keywords media, business, GDPR, Privacy, Data Protection, Competition, Global
Thesis Advisor P. Arora
Persistent URL hdl.handle.net/2105/50045
Series Media & Business
Citation
I. Storchak. (2019, June 7). The Global Effects of the General Data Protection Regulation Foreign Business, Competition, and Innovation. Media & Business. Retrieved from http://hdl.handle.net/2105/50045