With globalisation in reverse, different countries and jurisdictions around the world are no longer converging on a common rulebook. Instead, the bigger players are trying to make their own rules apply to the wider world. The rules reflect different normative standards in areas such as the probity of financial markets, the integrity of information markets and the protection of the environment.
This desire to project their own standards into the wider world raises two basic questions. First, what governments can do to make their own rules affect the behaviour of those outside their own jurisdiction. Secondly, what, if anything, can be done to avoid conflict between different rules.