What is another word for open economy?
Pronunciation: [ˈə͡ʊpən ɪkˈɒnəmi] (IPA) 
An open economy refers to a country that is willing to engage in international trade, foreign investment, and has minimal trade barriers. Some synonyms for an open economy include liberalized economy, free-market economy, and globalized economy. These synonyms all describe a similar economic ideology that promotes free trade and the removal of interventionist economic policies. Additionally, terms like "trade-oriented economy" and "export-oriented economy" can also be used to describe countries that hold a similar stance on global economic cooperation. Regardless of the terminology used, an open economy is a vital component to international trade, globalization, and economic growth.
