Personal privacy rights are already on the front burner and could prove to be quite intractable as high-tech capabilities advance. Modern financial systems are becoming so technologically sophisticated that regulators around the world are struggling to ensure their safety and soundness. There are different ethical, legal and religious issues surrounding technologies, unlocking the secrets of the human genome. One could go on and on.
Globalization and balance of payments stability Inevitably, financial liberalization, taken to its logical conclusion, will require that capital mobility be accelerated, though, at a pace consistent with manageable levels of financial volatility and consistent with domestic monetary stability. The macroeconomic and monetary environment have therefore to be as supportive as possible also, but most importantly, that environment must be as stable as possible.