Could China export its law

My question is could China leverage its most coveted market to export the law to other countries, as what EU has done?

The question crossed my mind after reading an article by FT which titled "Standard bearer". It talks about how EU has replaced the United States as the global standard setter. The community's laws in corporate governance, food safety, electronic waste, hazardous substances, competition, emission trading scheme, among others, have been copied or followed by a growing number of countries, including such economic power as Japan. What is incredible is that one state of the United States, California, even tried to bypass the Federation government to try to join the EU emission trading scheme. The EU is also trying to convince China to follow its competition law. The US has, with great jealousy, expressed its concern over the EU's status as global standard maker.

Mr. Datanni, who teaches me international business strategy, cited one typical example on how powerful EU is. American giant GE had thought of merging with Honeywell, only to give up the proposal, due to the objection from the EU who voiced its concern over the possible monopoly resulting from the merger.

In my view, EU could exert their power on non-EU companies could be attributed to various factors, like the way it promotes its standard(in the case of the mobile network standard GSM), or the sophistication of its standard(like its competition law is wide acclaimed to be the best of the world), but the major factor lies in the fact that its market has carried enough weight to force foreign companies to comply. The economic bloc which has rapidly expanded to 27 nations with a total of more than 480m largely afflunet consumers, and which accounts for one third of the total economic output of the world, has given EU enough claim on global standard maker. No foreign companies want to be ruled out of the EU lucrative market, and therefore, they have to comply with the EU law to gain access to it. In the above example, GE had to give up their planned merger with Honeywell to maintain their access to EU market.

What about China? There is no doubt that China has great market power as well. We have used market in exchange for advanced way of management and sophisticated technology from the West. Could we do more than that? Could China start to export not just textiles and other low-end products, but also our standards?

Standards is far more than a legal issue. It has broader political and economic implications. As far as I know, China has tried to promote its standards in telecommunication around the world, but most of them, such as the Wi-fi standard and 3G standard, have met with resistance from the West. However, China should never back from the competition for setting global standards.