The outcome of neoliberal deregulation was therefore asymmetric globalization, where markets expanded partly out of the reach of democratic governance, a pattern that has also been recognized global governance scholars under 'New Governace Theory'. The Posting Directive has allowed the European Court of Justice to bring the subject of strikes in by the back door, requiring that the exercising of the right to strike comply with the neoliberal principles of the Maastricht and Lisbon Treaties. Neoliberal deregulation and its stimulus of globalization have been one of the major drivers behind a massive geographic shift in industrial localization. Facilitated by neoliberal deregulation, multinational corporations have been important vehicles for this development. The pendulum that swung towards fairness in the industrial economies of the Western welfare states in the second half of the 20th century has swung back towards competitive productivity in the globalizing digital economy under neoliberal deregulation.