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We have taken exchange and specialization to the global limit, with systems of finance and governance so complex that they are difficult to manage.
But many observers say such bilateral deals also risk seriously weakening any Copenhagen agreement by allowing the idea of a global limit on greenhouse gas emissions to be abandoned.
The accord allows the French president to place himself in the vanguard of the fight against excessive rewards before a Group of 20 summit meeting in Pittsburgh in late September, where Mr. Sarkozy would like to see a global limit set on bonus payments, and sanctions for transgressors.
If the global limit on mobile roaming charges that is part of the proposal is approved for European customers of Telefónica of Spain, Deutsche Telekom of Germany, Vodafone of England and Orange of France, among others, carriers in other parts of the world — including the United States — could come under pressure to lower their fees.
A global limit on emissions, they argue, would interfere with that.
For a global limit on greenhouse emissions, Purvis imagines, the final domestic bill coming out of Congress might include something he calls "Climate Protection Authority".
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The UN's chief climate change negotiator has predicted that a Barack Obama victory next month would jump-start progress toward global limits on carbon emissions.
Many of those contacted say only a legally binding deal setting "top-down" global limits on emissions can ultimately avoid the worst impacts of rising temperatures.
The newly recognized global limits of natural resources force us & the Arabs & the Europeans & the Japanese & all the rest of the world into dependence on one another.
The delegates, operating under the United Nations Framework Convention on Climate Change, did agree in principle to negotiate new, global limits on greenhouse gases by 2015.
In his one previous appearance in the knock-out stages of a global limited-overs tournament – the 2012 World T20 held in Sri Lanka, where spinners were of crucial importance on turning pitches – Doherty struggled badly.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com