The digitalisation of the economy is transforming business landscapes, leading to an increased scope for automation in production and a growing role of services in global value chains. On the one hand, this digital transition could boost long-term value and productivity, helping to reduce inequalities within —and between —countries. On the other hand, it also poses critical challenges for labour markets and workers’ welfare, fueling a geopolitical competition for tech supremacy. This is a risk that creates an urgent need for a coordinated, global regulatory response, since the rise in market power associated with technologies can threaten the post-pandemic recovery. How will the digital transformation change labour markets and global value chains? Which consequences will it have on the future of developing countries’ political and economic stability? How can international institutions be reinvented and reconstructed to address today’s digital challenges?