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 ?
It is time that the government allowed the market economy to operate on its own.
Market economy status must be earned, according to the Trump Administration, instead of granted automatically.
China is fighting the EU for recognition as a market economy, a designation that would lead to dramatically lower anti-dumping duties on Chinese goods by prohibiting the use of third-country price comparisons.
Brown has noted that granting China market economy status could negatively impact the U.
One such measure, Article 15 of China's accession treaty to the WTO, stipulated that China, whose government continues to wield certain influences and planning powers over domestic industry, wouldn't be recognized as having a market economy for 15 years.
In the near past, China did show some promise of becoming more of a market economy, as Ronald Coase and Ning Wang argued in their 2013 book How China Became Capitalist (Palgrave Macmillan; reviewed in the Winter 2011-2012 issue).
But they warned that the European Commission's award of market economy status to China - expected later this year, with UK backing - would make it much more difficult to fight dumping.
Aberavon Labour MP Stephen Kinnock asked: "Would you agree that giving Market Economy Status to China would dramatically reduce the scope for taking antidumping measures against China?
The MP is calling on the government to oppose China being granted market economy status this year to protect UK steel.
After the collapse of communism in 1989, the Central and Eastern European countries took the challenge to implement a market economy embedded in a democratic order.
The AKP government has gradually moved away from the West, which grows and prospers as a free market economy and generates wealth and happiness, and adopted a vision which only cares about economic stability.
Based on many criteria, Macedonia is a functional market economy or is well on its way to become so, yet this status would do more harm than good at the moment, say experts in response to the idea just recently put forward by Rapporteur Richard Howitt at the European Parliament that the EC should officially award Macedonia the status of a functional market economy.