global economy

Cultural

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.

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

“Now we need to see what this new shock, potentially new shock hitting the global economy – how long is the effect, and how big is the effect,” he added.

From The Wall Street Journal

Qatar has halted production of liquefied natural gas and tanker traffic has virtually stopped at the Strait of Hormuz, as Iranian attacks raise the risks for the global economy.

From The Wall Street Journal

The relative calm with which markets absorbed the conflict in the Middle East gave way to a broad retreat Tuesday, with investors racing to gauge whether the fighting would remain contained or evolve into a longer, more disruptive shock to the global economy.

From The Wall Street Journal

Without a doubt, one of the biggest risks to the global economy, and markets, is closure of the Strait of Hormuz.

From MarketWatch

While it’s a huge chokepoint for the global economy — through which roughly 20% of the world’s petroleum products and liquified natural gas pass — closing the strait would be tantamount to self-asphyxiation for Iran, choking off its own imports.

From MarketWatch

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023