globalization
noun
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Definition of globalization
Examples of globalization in a Sentence
Recent Examples on the Web
One explanation for increasing income inequality is that the market economy does not reward those at the lower end of the income distribution due, primarily, to technological innovation and globalization devaluing low-skill workers. — Julie Heath, Cincinnati.com, "Region's Economy: The inequality conundrum," 27 Aug. 2019 Reduced demand for low-wage work due to automation and globalization, minimum wage hikes and competition from older workers and immigrants all play into the trend, Brookings found. — Robert Channick, chicagotribune.com, "High school students shunning character-building summer jobs for classes, academic camps and resume-worthy activities," 25 July 2019 These changes have not come about because of globalization or outsourcing. — Andrew Mcafee, WIRED, "How the iPhone Helped Save the Planet," 29 June 2019 Selections from the Hammer Contemporary Collection: Meleko Mokgosi Installation explores colonialism and globalization through the experience of South Africa’s Xhosa people. — Matt Cooper, latimes.com, "SoCal museum listings, June 23-30: ‘Buried by Vesuvius’ at the Getty Villa and more," 21 June 2019 The two groups of South Africans didn’t see a world where constant growth and globalization would solve all problems by default. — James Pogue, Harper's magazine, "The Myth of White Genocide," 10 June 2019 The internet and globalization are increasing the magnitude of these factors. — Todd Buchholz, WSJ, "Airbnb Helps Slay Inflation," 8 May 2019 Yang Ke, translation by Denis Mair Poems from a poet in the 1980s who writes about China in the era of globalization. — Amanda Shendruk, Quartzy, "Here’s what every Chinese book recently translated for the US is about," 27 July 2019 Wherever French voters had turned, somehow there was still a neoliberal lording over them in the Élysée Palace, favoring the diktats of the European Union, the forces of unregulated markets, the juggernaut of globalization. — Christopher Ketcham, Harper's magazine, "A Play with No End," 22 July 2019These 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.
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More Definitions for globalization
globalization
nounFinancial Definition of globalization
What It Is
Globalization is the integration of national economies through trade, investment, capital flow, labor migration, and technology.
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 developing 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.
Source: Investing Answers
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