Recent Examples of globalization from the Web
Many on the Left subscribed to the 1990s hope that the EU would enable a softer form of globalization that concentrated on regional integration.
But emotions matter in politics, and working-class wages in the U.S. have been stagnant or worse since companies became freer to move operations to countries where labor costs less, a central tenet of globalization.
The transformation demonstrates the barreling, often brutal, efficiency of globalization: In 27 years, market forces and decisions made in Washington have reshaped the rose business on two continents.
Bannon has accepted the invitation from Booth School of Business professor Luigi Zingales to speak about immigration and globalization, but no date for a visit has been set.
One Davos trending on the internet is the site of the economic summit where the world’s financial, political and intellectual leaders are gathered in the Swiss Alps to discuss matters like globalization.
As the liberal-world-order elite gather in Davos, there are signs that globalization may be slowing.
That's coupled with a meaty take on globalization and some top-tier actors.
Did Davos’s emphasis on globalization unleash Brexit, Marine Le Pen, upheaval in Italy, the anti-immigrant Alternative for Germany party, and, most chillingly, Donald Trump, on the world?
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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