International Regulation

Abstract

Writing at a time (late 1998) when talk has been of world financial crisis in the wake of the disarray of Japan and many of the former tiger economies of the Far East, and with Russia requiring food aid to cope with continuing economic chaos, the need for international regulation is clear enough, and was coherently articulated by the British government in calling for immediate remedies and for a long-term world-wide financial regulator. In this context it is only too easy to see the answer to the question as to why international regulation should seemingly be ever more extensive and apparently necessary in an adaptation of President Clinton’s remark: it’s globalisation, stupid.