Why? Multinational companies pay salaries in local currencies anyway. So what if the salaries are increased if the exchange rate of that currency goes down at the same time keeping the dollar value hike of the salaries moderate or non-existent.
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We as consumers buy directly across borders too.
Why would that be a problem for the old model?
What was amazon and eBay doing at that point, Microsoft, storage hosting?
You don't see an issue with a government influencing where and what you can buy?
The problem is that no decision lives in a vacuum, and with governments all over the world doing what is in their best interest, the system is getting more and more unstable with far more slipping through the cracks and living outside it. The banking system itself that underpins it all is global, and that means the decisions made at a country level sit upon it, not under it. 2008 should highlight this dependency.