Bangladesh, March 25 -- In the 21st century, data is no longer just a collection of binary digits. It has already become the new fuel of the modern economy. But who should control this fuel? Should it remain in the hands of nation-states or should it be managed by tech giants? This question has sparked an intense policy and strategic conflict between data localization and global cloud computing. Today, policymakers, economists, and technologists across the world are deeply engaged in this debate, which sits at the forefront of national security, economic growth, and privacy.

Data localization refers to a legal requirement that data generated within a country must be stored and processed within its geographical boundaries. The primary ob...