Globalisation

How it is used

A key word in debates about trade and jobs: the benefits and costs of globalisation, the winners and losers of globalisation. Since the late 2010s writers also discuss deglobalisation and slowbalisation, the idea that global integration has stalled.

Example sentences

1. Globalisation has lowered prices for consumers but put pressure on some factory jobs.

2. The pandemic made many firms rethink the risks of globalisation.

Common collocations

• economic globalisation
• the benefits of globalisation
• winners and losers of globalisation
• deglobalisation

Related terms

• free tradeInternational trade with few or no barriers such as tariffs, quotas or subsidies, so that goods and services move freely between countries.
• foreign direct investmentInvestment by a company from one country that gives it a lasting interest and control in a business in another country, such as building a factory.
• capital flowsMovements of money between countries for investment, such as buying shares, bonds, companies or property abroad, or lending to foreign borrowers.
• comparative advantageThe ability of a country or person to produce something at a lower opportunity cost than others; it is the basis of the gains from trade.
• protectionismPolicies that shield domestic producers from foreign competition, for example through tariffs, import quotas or subsidies.

This word in other fields

The same English word can have a different meaning in another field:

• globalisation · Sociology

More terms: Trade and Exchange Rates

• exchange rate
• export
• import
• trade deficit
• tariff
• current account deficit
• depreciation
• devaluation
• balance of payments
• currency
• appreciation
• trade balance