This is, I suspect, the sort of world envisaged by Thomas Friedman (1999) when he talks about the “Golden Straitjacket” - the set of rules which globalisation imposes on participants. But what we know from experience with domestic markets is that every transaction and every market is governed by a complex set of rules.
Sometimes these are set down by governments, but where they are not, the participants themselves find it advantageous to define a set of rules (in this, the example that springs to mind is futures markets, where the government has left these largely unregulated but the participants need to define their relationships with each other by quite comprehensive rules).