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

Analysts say a prolonged closure of the strait, which also carries a third of the fertiliser for world food production, would have a devastating effect on the global economy, particularly in Asia and Europe.

From Barron's

Oil demand is projected to rise by 1.34 million barrels a day next year, slightly below 2026’s estimated 1.38 million barrels a day, supported by a solid global economy.

From The Wall Street Journal

It appears to be something that would be welcomed by global energy markets and bring relief to the global economy.

From BBC

Ultimately he thinks that a "some kind of deal" is the only way to restore the freedom of the seas that the health of the global economy relies on.

From BBC

"If the conflict drags on for a few more weeks, prices could easily climb to $140," predicted Leon, weakening the global economy.

From Barron's