One worry about further liberalization of the rupee is that this will increase its already high vulnerability to rapid capital withdrawal at times of economic stress.

对于卢比进一步放开的一个担忧是，在经济面临压力之时，这会使本已易受资本快 速回收影响的卢比的波动性进一步加大。

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Financial Liberalization if not equal to the opening of capital account under the WTO.

WTO下的金融自由化与资本账户的放开并非等同。

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Stock market liberalization reduces cost of capital and promotes efficient capital allocation.

股票市场自由化降低了资本成本，促进了有效的资本配置。

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In these circumstances, capital account liberalization looks off the table.

FORBES: China Says Yuan Will Be Fully Convertible Soon

These trial reforms, while still relatively modest, are significant in large part because they show a way forward for capital-account liberalization.

WSJ: Business Asia: The Quietly International Yuan

With the revolution in information technology and financial liberalization, capital moves in cyberspace at a pace and frequency unknown before.

CNN: VIEWPOINT