Britain has a much more open economy than America, measured by foreign trade or capital flows.
Of course, in any individual open economy, it is possible to have spending less than income.
Both are helping to improve Ireland's competitiveness, a vital gain for a small open economy.
Private industry, too, is shedding labour, as it adapts to a more open economy.
Another is how to deal with the new opportunities posed by a more open economy.
But Australia a small, open economy has learnt to reserve such measures only for a handful of egregious cases.
Preliminary cease-fires have been reached with ethnic armies, and new laws allow for a more open economy.
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It turns out capital controls and an imploded banking sector aren't particularly healthy for a small, open economy.
The UAE has an open economy with a high per capita income and a sizable annual trade surplus.
They were explaining to me why our open economy seems to always be prone to speculative bubbles and crashing.
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It was revived even though in the 1990s it was deemed incompatible with the new democratic constitution and open economy.
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Mr Swinney said an "open economy like Scotland" could not be immune from the pressures gathering in the Euro area.
But it also has a far less open economy than China's, one in which Fidel Castro controls the minutest of decisions.
An open economy has never been a bad thing to have historically.
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The government's financial secretary, Henry Tang, argues that this is a global trend which a small, open economy such as Hong Kong's can hardly resist.
Kuwait has a geographically small, but wealthy, relatively open economy with crude oil reserves of about 104 billion barrels - about 7% of world reserves.
But this would contradict the government's commitment to an open economy.
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.
Yet an open economy creates threats as well as opportunities.
At the highest levels in Germany they want Britain to remain at the heart of Europe. (The two countries share an instinct for free trade and an open economy).
And thanks to a flexible labour market and an open economy it has already clawed back a good deal of the cost competitiveness it lost during the boom years.
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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.
Second, Switzerland is a relatively open economy and depreciation will have more effect, when it comes to countering deflation risks, than it would for the United States or the euro zone.
With exports worth about as much as its GDP, Ireland is an extraordinarily open economy far more so than either Greece or Portugal, which in April became the third economy to require a bail-out.
Would Ukraine be the next Belarus, isolated from the rest of Europe, run by a dictator, without free media and no free market, or would it move towards democratic values and open economy, the way Poland has?
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In principle, there is no reason to expect employment or unemployment to be any higher or lower in an open economy than in a closed economy or, for that matter, in a rich economy as compared to a poor economy.
Measured fiscal policy, commitment to maintaining an open economy, and prudent use of commodity-generated income have the country poised to continue delivering impressive economic performance the IMF recently forecasted that Indonesia will grow by more than six percent per year for the next five years.
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One system that has grabbed lots of attention around Europe and at the recent World Economic Forum in Davos originates in tiny Denmark, which has managed to avoid the Continent's generally high levels of joblessness even as it maintains an open economy free of most onerous state intrusions into the labor market.
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