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global economy
- 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
Carney told his audience in Edmonton, Alberta, sporting the local Oilers hockey shirt: "President Trump has ruptured the global economy... America's leadership of the global economy is over. It's still in play, but it is a tragedy, and our new reality… in this trade war, just like in hockey, we will win".
“If we are to prepare our students to be successful in a global economy, we should offer an educational environment that reflects the diversity of the world,” Milliken said at the time.
On the campaign trail in his hometown of Edmonton, I heard him say "America's leadership of the global economy is over" and that was a "tragedy".
But the S&P report wrote that "larger, structural deficits", coupled with more volatility in the global economy, could threaten Australia's AAA credit rating – the highest tier.
Even if tariffs against the UK are not extended, EY said any further trade tensions could have an indirect impact on UK growth by damaging the global economy.
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