This means that companies have to factor in the possibility that the final deal will not prioritise the economy – or that, in a negative scenario, both sides might not agree on any deal at all. But whatever happens in terms of our future relations, it is vital to remember that lax financial rules have often paved the route to failure.
I do not intend to address all of these policy challenges today, rather, I would like to focus on two specific challenges: the implications of globalisation for inflation and monetary policy, and the governance of globalisation at the international level. 1  See IMF (2007), “The Globalization of Labor” (World Economic Outlook, April). 2  Source: IMF balance of payments statistics.