globalization
noun
glob·al·i·za·tion
ˌglō-bə-lə-ˈzā-shən
: the act or process of globalizing : the state of being globalized
especially
: the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets
Globalization brought with it elongated supply chains, as manufacturing and production were moved across oceans and continents. —
Mary Hui
Much of globalization's appeal came from the cheap labor offered in manufacturing hubs like China and Vietnam. Companies moved production abroad, and lower labor costs kept prices low for all kinds of goods. —
Ben Winck
Free-trade proponents argue there are always winners and losers in globalization, but overall, gains outweigh losses. … That "everyone's better off" argument, though, rang hollow among Rust Belt workers left behind in globalization … —
Kristina Johnson and Samuel Fromartz
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Merriam-Webster unabridged




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