Recent Examples of globalization from the Web
That the root’s most valuable output comes from one of its smallest producing nations is a phenomenon of globalization.
The landscape illustrates the nexus of the shift from cars to trucks and SUVs and globalization.
Rather than address its shortcomings, this will only entrench the inferior form of globalization.
Policymakers must understand that machine learning and automation's impact on the economy and job market will mirror that of globalization.
Still, Marine Le Pen made clear that a new name would in no way change the party’s anti-immigration, anti-European Union and anti-globalization platform.
Like the anti-establishment Five Star Movement, which emerged the biggest single party in parliament, Salvini built the League’s best result ever by riding a surge of anti-globalization, euroskeptic voter anger.
The tariff actions week found Trump administration officials in Davos fighting back hard against global perceptions that the United States is anti-globalization and against free trade.
The globalization of the American lobster business has spurred fears within the industry that lobsters’ shells are getting weaker, but scientific evidence about the issue paints a complicated picture.
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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