But this must be done without building walls and fortresses around the economy. Open markets are the valuable result of a long and painful process of trade liberalisation that has lasted over 60 years. This process has dismantled barriers between countries and has included an expanding share of the world population in a network of exchange and growing economic prosperity.
Indicators of financial depth point to the great strides that have been made in as far as financial sector deepening is concerned. For example, domestic credit to the private sector as a proportion of GDP increased to 10.2 percent in 2013/14 from 6.4 percent in 2012/13.