Recent Examples of globalization from the Web
Even some workers directly helped by globalization have focused on loss.
Swiss documentary director Daniel Zimmermann makes a formally impressive feature debut with his take on nature and globalization in 13 tableaux that all pan right for 360 degress.
Read more: Some highlights from the study results: Automotive globalization: Vehicles are now made in 25 countries for the U.S. market, which is 11 mote than five years ago.
Migrants like Gassama are part of a world system that, though marked in so many ways by globalization and interdependence, throws up barriers to their dreams.
The president’s proposed tariffs on a variety of imports are aimed at fulfilling a campaign promise to protect domestic industries slammed by globalization.
In reality, the job losses in industries like logging and mining that have devastated many rural communities are due to macroeconomic forces like depleted resources, globalization, and technological advances.
Many international economists predicted that globalization would lead to higher revenues because of private sector growth.
But when globalization destroyed hundreds of thousands of U.S. manufacturing jobs, few elite policymakers batted an eyelash.
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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