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

They amount to between 20,000 and 30,000 barrels of oil a day—a drop compared with the 13 million barrels a day that the closure of the Strait of Hormuz has removed from the global economy.

From The Wall Street Journal • May 7, 2026

The head of BlackRock’s fundamental equities global technology team, Tony Kim, says AI is rewiring the global economy, and that will just keep going.

From The Wall Street Journal • May 5, 2026

That’s our call of the day from the head of BlackRock’s fundamental equities global technology team, Tony Kim, who says the AI trade has staying power because it’s totally rewiring the global economy.

From MarketWatch • May 5, 2026

Relaxed security, Houthi attacks, and internal Somali crises are fueling piracy, which previously cost the global economy $18 billion annually.

From Barron's • May 4, 2026

For entry-level jobs into the global economy, these are about as good as it gets.

From "The World Is Flat" by Thomas L. Friedman