What Is a Trust?
This article shows some definitions of trust and explains it by taking an example.
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Bethany Walsh
Sep 15, 2021
Various legal disciplines have studied why and how legal principles and norms are disseminated among jurisdictions. Firstly, this paper examines the research of Jack Goldsmith and Tim Wu on the impact of EU privacy law on the global dissemination. Then it analyzes the valuable academic achievements of Anu Bradford. Goldsmith and Wu believe that EU’s dominant power in this field is the result of the joint action of Europe's huge market forces and its extraordinary concern for citizens' privacy. EU is a very important market for multinational corporations, so many companies do not "completely withdraw from the European market".
In addition, the EU attaches great importance to the right to privacy and participates in this legislation for a long time, its regulations have extraterritorial effect: As long as the information is transmitted outside the EU, EU laws will protect the personal data of EU residents. Bradford further developed the concept of EU unilateral legislation. In her article The Brussels effect, she tries to explain why EU can implement its rules globally. She pointed out that EU regulations have had a real impact on the daily lives of citizens all over the world. Brussels effect is in fact "unilateral regulatory globalization", that is, a country can externalize its laws and regulations through market mechanism. Although EU only regulates its internal market, multinational corporations often have the motivation to standardize production globally and abide by a single rule.
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What Is a Trust?
This article shows some definitions of trust and explains it by taking an example.
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