This reflects over-optimism on two fronts: first, about how well policy can be fine-tuned to target directly the underlying failures that make global finance unsafe; and, second, about the extent to which convergence in domestic financial regulations will attenuate the need for cross-border management of flows.
这反映了两方面的过分乐观：首先是关于政策能否得到合理安排以直接针对导致全球金融不再安全的根本性失灵的问题；其次是关于国内金融监管趋同会将跨境流动的治理需要降低到何种程度的问题。