Recent Examples of globalization from the Web
Rather than diagnosing tensions between Muslims and white Europeans as an innate clash of cultures, Ahmed blames a loosening of identities — religious, national, tribal and cultural — on all sides that’s further exacerbated by globalization.
View 19 Photos As a lesson in globalization, the TourX couldn’t be more perfect.
The opponents of globalization probably didn’t envision a new, non-military superpower battle over commerce.
Surveys by the non-partisan Chicago Council on Global Affairs have found that Democrats and Republicans were about equally likely from the late 1990s through mid-way in George W. Bush's presidency to say globalization has been good for the US.
For his part, Trump needs to understand that globalization is, in many dimensions, not a choice but a reality.
Both political parties, Mr. Olsen says, have ignored the needs of a working class rocked by globalization, technology and immigration, setting the table for Mr. Trump’s election.
By Denis MacShane For the evangelists of globalization, Switzerland has long been the model country.
In many ways, his creed directly borrowed from the long-standing positions of Europe's far right, combining a narrative of economic anxiety over globalization with seething cultural resentments about immigration.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'globalization.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
Financial Definition of GLOBALIZATION
What It Is
How It Works
Globalization results from the removal of barriers between national economies to encourage the flow of goods, services, capital, and labor. While the lowering or removal of tariffs and quotas (see General Agreement on Trade and Tariffs, or GATT) that restrict free and open trade among nations has helped globalize the world economy, transportation and communication technologies have had the strongest impact on accelerating the pace of globalization.
Thomas L. Friedman describes the "flattening" of the world economy through globalized trade, outsourcing, supply-chaining and political liberalization. The use of technologies allows businesses, such as large multi-national corporations, to maintain customers, suppliers and even competitors on a world-wide basis. The breakdown of businesses into components along its value-chain creates opportunities for multiple businesses located at various spots on the globe to participate in the production of a single good or service. This global network, even for a single enterprise, is part of globalization.
Several organizations have either been created or have evolved into key roles in the process of globalization. The World Bank and the International Monetary Fund, for instance, deal primarily with issues of free trade in developing economies and with international monetary policy, including debt and trade balances between dbieloping and industrialized countries. The World Trade Organization, along with the General Agreement on Trade and Tariffs (GATT), has been involved with removing trade barriers and reducing the cost of trading.
Why It Matters
Increasingly, businesses must recognize that their success depends on efficiency and scalability – being able to quickly mobilize global resources and reach world markets. Globalization is the key to growing businesses in the 21st Century.
At the same time, globalization has led economic decision-making away from local control. As a result, decisions about a company's plans, including expansions, relocations, or closings are increasingly made independently of the considerations of local markets or local managers.
Seen and Heard
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