2019 Reading Comprehension - Economy and Regulations

On the basis of the above passage, the following assumptions have been made : In today's global economy, 1. regulations are not effectively used to protect local markets. 2. social and environmental concerns are generally ignored by the governments across the world while implementing the regulations. Which of the above assumptions is/are valid?

• 1 only
• 2 only
• Both 1 and 2
• Neither 1 nor 2