The past twenty years have seen global regulatory leadership shift from the United States to the European Union

For most of the post-war period, the US was the leader in comprehensive and innovative risk regulations. But the last two decades have seen the EU adopt far more stringent regulations than the US, meaning that every global firm must now take European standards and regulatory requirements into account in designing its products. David Vogel argues that this regulatory shift is down to public demands for regulation in Europe, more partisan positions towards regulation in the USA, and the EU’s adoption of the precautionary principle.