| 单词 | liberalization |
| 释义 | liberalization A programme of changes in the direction of moving towards a free-market economy. This normally includes the reduction of direct controls on both internal and international transactions, and a shift towards relying on the price mechanism to co-ordinate economic activities. In such a programme less use is made of licences, permits and price controls, and there is more reliance on prices to clear markets. It also involves a shift away from exchange controls and multiple exchange rates, towards a convertible currency. The extent to which an economy is controlled can vary greatly; liberalization is a matter of degree, and does not imply a shift to total laissez-faire. See also: trade liberalization |
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