Prospects for international financial deglobalisation and its potential impact on international financial regulation

The prospects of deglobalisation have been discussed in relation to international trade and finance, and this article queries how recent geopolitical risks may affect the shape of international financial regulation. The article critically presents an examination of international financial globalisation that has already been chequered for a long time, and argues that there is a strong likelihood of no or incremental change to international financial regulation due to the chequered nature of financial globalisation it already supports. However, international financial regulatory bodies can be affected if individual jurisdictions that are members of international organisations make more pronounced political responses. Although the network of experts underlying international financial regulation have technocratised issues to a significant extent, the politicisation of issues has always persisted. The article therefore addresses the potential for scenarios of more dramatic and turbulent change in international financial regulation and sketches the broad contours of such possibilities.