So, if I'm a German corporation and I don't like RIPE's rules, I simply set up 
a shell corporation in the US and get my addresses from ARIN, then use them in 
Germany anyway?  That doesn't sound right.

MM: There are these things called multinational corporations with global 
networks. Ever heard of them? Making internet conform to national jurisdictions 
doesn’t sound right; indeed, it sounds a lot worse than what you call “registry 
shopping.” There is strong community support for one-stop shopping for number 
needs for global networks.

Such registry shopping will inevitably result in a "race to the bottom" and 
defeat the entire rationale for having regional registries.

MM: This is a slogan not an argument. Tell me what the incentives of an RIR are 
to “race to the bottom” are, please? Most race to the bottom arguments involve 
benefits or profits that accrue from loosening requirements. Tell me how ARIN 
or RIPE or APNIC has an incentive to race to the bottom in the distribution of 
numbers. It seems they almost have the opposite incentive; they want to 
conserve their local number allocations.

IMHO, addresses should come from the registry for the region in which they're 
used,

MM: Numbers are virtual resources that have no intrinsic tie to geography. RIRs 
were created to make face to face and administrative interactions easier due to 
variations in language, culture, etc, not to link numbers to territory. Tell me 
how the internet or the public benefits by requiring transnational networks to 
get membership in and participate in 5 different organizations for a single 
network.

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