economic liberalization
[/ɪˌkɒnɒmɪk ˌlɪbərəlaɪˈzeɪʃən/]
nounfemininepl: liberalizações econômicas
liberalização econômica
1. The process of reducing government control and restrictions in an economy, allowing greater freedom for private enterprise, trade, and market forces
The country underwent economic liberalization in the 1990s, opening its markets to foreign investment.
O país passou por uma liberalização econômica nos anos 1990, abrindo seus mercados para investimento estrangeiro.
2. The removal of tariffs, quotas, price controls, and other barriers to free market operations
Economic liberalization policies included the elimination of import duties on manufactured goods.
As políticas de liberalização econômica incluíram a eliminação de tarifas de importação sobre bens manufaturados.
3. Structural reforms aimed at transitioning from a centrally-planned to a market-oriented economy
China's economic liberalization began with special economic zones in coastal regions.
A liberalização econômica da China começou com zonas econômicas especiais em regiões costeiras.
Economic liberalization is a significant concept in Brazilian and global economic policy discourse. In Brazil, this term gained prominence during the 1990s when President Fernando Henrique Cardoso implemented liberalization policies following the hyperinflation crisis. The concept remains central to debates about competitiveness and development, with both proponents emphasizing efficiency and critics raising concerns about social inequality and job losses. In the USA, the term is often associated with Reagan-era policies and broader neoliberal economic philosophy that gained influence from the 1980s onward.
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