"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.
Of course, in any individual open economy, it is possible to have spending less than income.
But Mr Cardoso and his team have achieved a great deal, not just in conquering inflation but in keeping the economy open, dismantling and privatising state monopolies, and welcoming foreign investment.
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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.
First, immediately ratifying the Chemical Weapons Convention, and then giving the United States the means we need to continue our growth by making trade more open and fair in the global economy.
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The second concerns how you deal with that issue in an era of open innovation and an ideas economy.
But much of what Murdoch had to say in open sessions had to do with the global economy and public policy.
Fourteen private banks, all of which are subsidiaries of Arab banks, have opened since Syria's centrally planned economy started to creak open in 2000.
He expects fewer than usual to open up this year because in a tough economy schools will be unwilling to fire coaches and eat their contracts.
He will join Hashimoto and Finance Minister Matsunaga Hikaru in the drive to revitalize the sagging economy and open up the financial system.
India's future as an open, competitive economy will not be decided in the supermarket aisles.
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The Eden Project, which brings in millions into the Cornish economy, had also been open for only nine months by the end of 2001.
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The central bank has also shifted towards a tighter stance in recent weeks, withdrawing cash from the economy via its open-market operations.
But industrial patriotism is a bit more complicated for the British than it is for Germans and Americans, in that our economy is and has been so much more open than theirs.
Taking advantage of liberalized rules and a more open economy, he sold lossmaking ventures and acquired companies in India and overseas to build scale in the businesses he wanted to retain.
Singapore and Hong Kong have benefited from the booming Asian economy, which has led many multinationals to open offices in the two financial centres.
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.
That means ensuring that the economy remains open, flexible and resilient, capable, in other words, of getting through harder times when the boom is over (a sovereign-wealth fund would help).
If and when these take place, the entire trade group is sure to vote that China plug into the global economy and, as a consequence, open its markets in myriad tantalizing ways.
Meanwhile, it has talked a cautious game: no firm promise that any interest rate will be cut, but the odd hint that all the options are open in monetary policy, especially when it comes to protecting the real economy from the turbulence on the markets.
In addition, open trade with the EU allowed it to build a diversified export economy.
Finally, he discussed how open borders, integration and the threat of foreign competition increases efficiency in an economy.
The bill for the benefits of an open global economy has arrived, and it can only be paid in greater global governance.
Both want a healthy world economy, a stable Asia, peace in the Middle East, open sea lanes, a limit to proliferation, an open trading system, and so on.
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.
Mr Swinney said an "open economy like Scotland" could not be immune from the pressures gathering in the Euro area.
One positive trend arising from China's effort to integrate into the world economy, however, is that the public have become more open in expressing themselves and protecting their rights.
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