I can't seem to respond to the sibling comment directly, so I'll comment here to say that ripping a CD or DVD is making a copy of it, which isn't what this thread is about.

You can't rip it, but you can sell, share, or do whatever you want with the original copy you bought and own. That is true everywhere in the world.

EU has a same-but-different "Exhaustion of Rights" concept. But WTO organisation does not have any provisions for this principle.

Asia-pac countries do not have this provision at all, unless enforced by US-trade agreements.

Can't speak to other countries but I know in NZ you're not allowed legally to rip DVDs or blurays you own (even just for private use, no distribution intended). The copyright act is structured with a whitelist of permissible format shifts, and while CDs made it onto that list, movie discs didn't.

Surely you can still resell and loan the physical CD/DVD though, which is what's being discussed here as universally legal? I think ripping DVDs would be seen as equivalent to photocopying a book.

This is true in America as well, though nobody cares. DVD's and bluray are protected with DRM, and you can only legally circumvent that DRM to use a short chunk as a critic or to develop accessibility features.

I am unaware of anyone prosecuted for ripping though, only several for developing/spreading the DRM circumvention.

Though, the other poster is right, that's a separate thing to what is being discussed.