Recent Examples of globalization from the Web
In their stories are themes of immigration and globalization, of class and gender, and of resourcefulness and creativity.
President Xi Jinping addressed a group of American executives on Monday about topics like globalization, innovation and China’s relationship with the United States.
The second, and perhaps even more important, reason for the rise in campus spying is the globalization of higher education.
Amid Korean music shows’ contribution to the globalization of K-pop, idols’ faces increasingly appear on billboards in New York's Times Square, a domain once dominated by TRL.
The globalization of the municipal market, still largely a low-yielding haven for risk-averse Americans seeking tax-exempt income, has helped increase demand for the securities.
And there is no sign that the deeper forces that have accelerated this — globalization, social atomization, secularization, media polarization, ever more multiculturalism — will weaken.
As a group, Brazil’s poor are arguably the largest beneficiaries of globalization in the Western hemisphere.
Grisham lingers too long, listening to Walker talk about the days before factories and war and globalization and this degrading new thing called service industries.
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.
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Seen and Heard
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