Global Data Protection Regulation: EU Road - Part 3

First of all, the EU is a rich consumer market, which is important for large companies outside the EU. EU is the world's second largest economy and the world's second largest consumer market. More specifically, EU consumers are early adopters of a series of information technologies, and EU has always been in a leading position in key areas such as broadband Internet services.

Secondly, EU has established a considerable capacity for privacy supervision. At the level of Member States, there is a data protection agency in each country. The GDPR lists the necessary tasks of these institutions, including assisting individuals to protect their rights and advising legislative bodies on the operation of existing regulations. There are also important independent EU privacy entities, including the European data protection regulator and the European Data Protection Commission under the global data protection regulations.

Finally, with regard to the tendency to impose strict rules on inelastic markets, Bradford believes that the EU usually prefers preventive regulatory action. If services are customized according to geographical location, they may no longer "expand" to a profitability sufficient to meet global Internet demand. If customers in some non-EU countries feel that their privacy level is low, there may be a political rebound. Global standards arise when a company's production or behavior is indivisible in different markets, or the benefits of uniform standards due to economies of scale outweigh the practice of reducing production costs in less regulated markets. Overall, according to Bradford, personal data seems to be consistent with the factual unilateral Brussels effect.