market economy

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market economy

an economic system in which production and allocation are determined mainly by decisions in competitive markets, rather than controlled by the STATE.
References in periodicals archive ?
At the international level, the established postwar order was increasingly challenged by a rising China, whose sheer size, in terms of both geography and population, enabled it to achieve systemic importance, despite a relatively low per capita income and a political system that seemed at odds with a liberal market-based economy. The major global economic institutions struggled to adapt quickly enough.
At the international level, the established post-war order was increasingly challenged by a rising China, whose sheer size, in terms of both geography and population, enabled it to achieve systemic importance, despite a relatively low per capita income and a political system that seemed at odds with a liberal market-based economy. The major global economic institutions struggled to adapt quickly enough.
The UK is keen to endorse the MiS' 2030 vision, an attempt to turn Saudi Arabia into a market-based economy less dependent on oil while ministers hope for a bonanza for the City of London by winning the planned stock market flotation of 5% in state-owned Saudi Aramco, the oil group valued at about $2tn, over rival bids from Wall Street and the Far East.
He said that the history together of India and the US speak through a common set of values - values of pluralism and tolerance, openness and rule of law, a liberal market-based economy that places the primacy of people's individual rights, including the freedom of speech and freedom of the press.
Hungary has witnessed an economic transitional period, switching from a socialist system to a market-based economy, he said.
Many governors describe the situation as "learning to drive backwards." With extensive experience in both the private and public sectors, El-Erian has come to understand and appreciate the crucial role central banks play in a market-based economy, which makes the recent attempts made by politicians to rein in their autonomy that much more worrying given how imperative their autonomy is to their success.
"A primary development challenge, given the rapidly increasing labor force, is the creation of new productive and sustainable jobs, requiring accelerated transition toward a private sector-driven, market-based economy in Uzbekistan," said Junghun Cho, World Bank Country Manager for Uzbekistan.
Yet in an (http://www.globaltimes.cn/content/981663.shtml) editorial published in both its English and Chinese editions Friday, the Global Times appeared to express some sympathy for the leadership in Pyongyang. It said the country's nuclear program "has brought its regime huge damage," and may have had "far more negative effects on its security than it may have predicted when it initiated its weapons program in the early years." And it said the nation was now at a "critical juncture," adding that the congress would show whether Pyongyang could resolve the "contradictions" between economic growth and nuclear technology 6 and initiate "reforms and opening up" 6 a reference to China's own move toward a more market-based economy over the past three decades.
In a study of Vietnam's transition from a post-socialist country to a market-based economy, women traders might seem to be an unlikely topic.
This country has one of the highest tax packages in the world in exchange for its broad services in a largely market-based economy. Forbes ranks 144 countries in the world by 11 criteria including: right to property, innovations, tax, technology, corruption, freedom (personal, financial, market), and protection and security of investors.
Belarusian authorities have yet to initiate basic economic reforms necessary to create a market-based economy, with seventy percent of the economy still under government control.