In an open economy, the same must ultimately be true.

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"Liberals believe in open societies and in an open, global economy and with the principles of free trade and free movement of goods, capital, services and people, " he said.

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The second concerns how you deal with that issue in an era of open innovation and an ideas economy.

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One is that of an active, open participant in the globalized economy, as signified by Beijing's accession to the World Trade Organization a decade ago.

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India's future as an open, competitive economy will not be decided in the supermarket aisles.

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And now, LeCamping sits right on top of that old economy, looking a bit like squatters and working in an open space with picnic tables.

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Finally, he discussed how open borders, integration and the threat of foreign competition increases efficiency in an economy.

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The bill for the benefits of an open global economy has arrived, and it can only be paid in greater global governance.

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With a small, open economy, it cannot maintain an overvalued exchange rate and pour in stimulus spending without seeing much of the money leak away into trade deficits.

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It is pursuing legislation to open up the pension sector and increase foreign investment in insurance companies to boost an economy that is expanding at its weakest pace in a decade.

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Mr Swinney said an "open economy like Scotland" could not be immune from the pressures gathering in the Euro area.

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