This means open in their economies, eschewing protectionism, welcoming foreign investment, running flexible labour markets.

ECONOMIST: Tony Blair

But Mr Cardoso and his team have achieved a great deal, not just in conquering inflation but in keeping the economy open, dismantling and privatising state monopolies, and welcoming foreign investment.

ECONOMIST: The emerging-market sickness is sizing up a new victim

In recent years, the kingdom's elderly top princes have opened up a bit, welcoming foreign investment, deleting from school books passages warning children to shun infidels, and hinting that they may one day allow elections.

ECONOMIST: Saudi Arabia

Developing countries are under pressure to make their markets more welcoming to foreign investment as well.

ECONOMIST: The fight against crooked trading gathers pace

And countries have become much more welcoming to foreign investment, which the Doha round does not even address.

ECONOMIST: World trade

But with Japan, for one, now welcoming more foreign investment, there may be few friction points over which the next Democrat-versus-Republican tiff can begin.

FORBES: Commercial Casualty