1. An economic system that allows free trade with other countries, with minimal restrictions on imports and exports, and permits the free flow of capital and labor across borders
Singapore is considered one of the most successful open economies in the world.
Singapura é considerada uma das economias abertas mais bem-sucedidas do mundo.
2. An economy that is integrated into the global economic system and depends on international trade
The country's transition to an open economy required significant structural reforms.
A transição do país para uma economia aberta exigiu reformas estruturais significativas.