global economy

Cultural  

1. The international spread of capitalism, especially in recent decades, across national boundaries and with minimal restrictions by governments. The global economy has become hotly controversial. Critics allege that its props, free markets and free trade, take jobs away from well-paid workers in the wealthy nations while creating sweatshops in the poor ones. Its supporters insist that the free movement of capital stimulates investment in poor nations and creates jobs in them. The process is also called globalization.

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Example Sentences

“By extending the deadline, it effectively kicks the can down the road, pushing back any concrete resolution regarding the reopening of the Strait of Hormuz. This, in turn, simply extends the uncertainty weighing on markets and the broader global economy.”

From MarketWatch

Ultimately, the entire global economy is exposed to higher energy prices.

From The Wall Street Journal

The research body lifted its inflation forecast for the U.S. to 4.2% from 3%, and said the global economy would suffer a large setback if energy prices stay high for a lengthy period.

From The Wall Street Journal

Oil prices were much higher before Russia’s full-scale invasion of Ukraine in 2022, when the global economy was snapping back from the pandemic.

From The Wall Street Journal

In a quarterly report, the Organization for Economic Cooperation and Development said the global economy would suffer a large setback to growth if energy prices stay higher for longer.

From The Wall Street Journal