So this is an area where Europe really gives power back to ordinary people. Being the world’s largest exporter of manufactured goods and services and the biggest export 1/3  BIS central bankers' speeches  market for around 80 countries gives the EU considerable power as a global standard-setter, too4.
In the past this capacity mainly affected technical areas that were less visible to the public, like chemicals and food standards. But today it clearly helps us to protect and share our values. Take for example the EU’s Data Protection Directive. Since it was passed, over 30 countries have adopted EU-type privacy laws, including most OECD countries.