It's worth noting that the biggest reason it's not been a problem in the past is because most countries pay publishers/authors a royalty for loaning out library

It's worth noting that the biggest reason it's not been a problem in the past is because most countries pay publishers/authors a royalty for loaning out library books. The US was always an outlier on this. (Which is another reason publishers are not overjoyed that the IA doesn't really operate any geofiltering.)