When Power Crosses Borders: How Global Regulation Is Redrawing the Rules of Business

Globalization was once expected to make national borders less important. As money, technology, data, and trade flowed more freely across countries, many believed governments would gradually lose some of their ability to control events beyond their own territory. Instead, something rather different has happened. Powerful states have found new ways to extend their influence, using access to financial systems, technologies, markets, and critical infrastructure to enforce their national laws far beyond their own borders. In recent years, similar patterns have appeared in areas ranging from international sanctions to technology regulation and environmental policy.