Federate Republic corruptly with laissez-faire approach to economics, perhaps (4,5)
I believe the answer is:
free trade
'federate republic' is the definition.
Although both the answer and definition are singular nouns, I can't understand how they can define each other.
I cannot understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for free trade that I've seen before include "International commerce without government interference" , "International commerce without restrictions" , "Interchange of commodities without hinder" , "Unregulated commerce" .)