globalization

  

Definition

The worldwide movement toward economic, financial, trade, and communications integration.

Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services across national frontiers. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately.


Use globalization in a sentence

  • Since the advent of globalization, Ron believed that the US auto industry suffered and that is why he lost his job at the car plant.

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  • Travel is one example that benefits the most from globalization - from the airline industries being able to partner with each other to hotel chains being able to unify under one global umbrella of standards, travelers now can roam the world more efficiently, cost-effectively and with peace of mind that where ever they go to, commonalities exist to make understanding the world map feel more attainable than ever before.

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  • The sharing of popular culture and entertainment of Japan and the United States is caused by increased globalization via the internet.

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