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Trade, Policy, and Economic Development in the Web 3.0 Digital Economy: Experiences from BRICS Countries

In: International Trade and Economic Development in BRICS

Author

Listed:
  • Poshan Yu

    (Soochow University
    European Business Institute of Luxembourg)

  • Xinyu Wang

    (Soochow University)

  • Lanbei Yin

    (Soochow University)

Abstract

This paper examines the relationship between digital trade policies in BRICS (Brazil, Russia, India, China, and South Africa) countries, their services trade specialization, and integration into global value chains within the Web 3.0 digital economy. Using CiteSpace analysis and comparative case studies, it explores disparities in stablecoin regulations, DeFi anti-money laundering strategies, and regulatory sandbox mechanisms between BRICS and non-BRICS economies. The findings reveal that while BRICS countries have achieved niche services specialization, such as China’s dominance in blockchain infrastructure and India’s growth in digital software export. Regulatory fragmentation hinders their intra-bloc digital trade and global value chain integration, with intra-bloc trade volumes 30% below global averages for regional blocs. In contrast, non-BRICS economies, exemplified by the EU’s Markets in Crypto Assets Regulation and the U.S.’s state-level regulatory agility, have leveraged coordinated frameworks to deepen global value chain participation. The study concludes with policy recommendations, including establishing the BRICS Digital Trade Alliance, expanding South-South technology transfers, and developing a cross-border decentralized finance regulatory sandbox network, to enhance BRICS’ digital trade governance and global value chain integration.

Suggested Citation

  • Poshan Yu & Xinyu Wang & Lanbei Yin, 2026. "Trade, Policy, and Economic Development in the Web 3.0 Digital Economy: Experiences from BRICS Countries," Contributions to Economics, in: Vasilii Erokhin & Tianming Gao & Poshan Yu (ed.), International Trade and Economic Development in BRICS, chapter 0, pages 151-170, Springer.
    • Handle: RePEc:spr:conchp:978-981-95-8801-5_7
    DOI: 10.1007/978-981-95-8801-5_7
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