Globalization
in sentence
2352 examples of Globalization in a sentence
As
globalization
connects far-flung people and economies, the consequences are not always what was expected – or welcome.
Another uncomfortable consequence of
globalization
is its tendency to put people and capital on the move.
This year’s report focuses on the nature of work: how the way we earn a living is being transformed by economic globalization, new technologies, and innovations in social organization.
Second, the forces of
globalization
and technological progress have combined to alter the nature of manufacturing work in a way that makes it very difficult, if not impossible, for newcomers to emulate the industrialization experience of the Four Asian Tigers, or the European and North American economies before them.
The first breakdown of globalization, described by Karl Marx and Friedrich Engels in their 1848 The Communist Manifesto, was followed by reform laws creating unprecedented rights for the working class.
First, macroeconomic management must ensure that demand always grows as strongly as the supply potential created by technology and
globalization.
Just as fiscal and monetary policy can be calibrated to minimize both unemployment and inflation, redistribution can be designed not merely to recycle taxes into welfare, but to help more directly when workers and communities suffer from
globalization
and technological change.
The redistribution has been away from low-paid young workers, whose jobs and wages are genuinely threatened by trade and immigration, and toward the managerial and financial elites, who have gained the most from globalization, and elderly retirees, whose guaranteed pensions protect them from economic disruptions.
Granted, the credit boom itself may be rooted in excessive optimism surrounding the economic-growth potential implied by
globalization
and new technologies.
As Carmen Reinhart and I emphasize in our book This Time is Different, such fugues of optimism often accompany credit run-ups, and this is hardly the first time that
globalization
and technological innovation have played a central role.
To be sure, we economists have found that
globalization
appears to have played a far lesser role in growing wage inequality than have technological advances.
Absent further trade agreements, there is a big risk that the pace of
globalization
will slow, with profound consequences for global poverty and welfare.
Technology and the Employment ChallengeMILAN – New technologies of various kinds, together with globalization, are powerfully affecting the range of employment options for individuals in advanced and developing countries alike – and at various levels of education.
Thus, along with tremendous opportunities implied by globalization, political risks must also be addressed.
Nevertheless, Germany stands to lose more than any other country from any protectionist-minded retreat from
globalization.
Whether or not the UK – one of the world’s most outward-looking countries – remains in the EU,
globalization
rules out that option.
The New Political DivideVIENNA: Despite traditional party labels, today’s most important political division is between two de-facto coalitions: call them the party of
globalization
and the party of territoriality.
Most concern the progress of globalization: the alleged movement of industrial jobs from Europe and the U.S. to Latin America and Asia; the pace of migration; the influence of investors from abroad and the closing of factories.
The party of territoriality, preoccupied by the advance of globalization, is itself divided.
Other defenders of localism design less xenophobic and more instrumental strategies; they can work with the party of
globalization
as long as they find subsidies and social protection.
On one side, the party of
globalization
appears a neo-liberal party, straddling the old center, and increasingly confident that the market means progress and wealth and that old jobs will be replaced by new.
I cannot provide a magic ideological vision to ease the ruptures of
globalization.
The Two Faces of GlobalizationWhy do popular and elite perceptions of
globalization
clash?
People in the rich world think
globalization
resembles an implacably malignant force that snatches away well paying jobs and sends them to faraway places; people in developing countries think it ushers in a self-obsessed consumerist ethic on a train of corrupt privatization and environmental destruction.
Consider the previous wave of globalization: the period between the mid-19 th century and the outbreak of the First World War.
Indeed, a recent article on 19 th -century
globalization
by two well-known economic historians, Jeff Williamson and Peter Lindert, never uses the words imperialism, colonialism, or slavery.
Of course, abject poverty, poor sanitation, dangerous workplaces, and child labor existed long before the current wave of
globalization.
But as targets of popular wrath go,
globalization
is as logical a choice now as it was in the age of imperialism.
For many people, including most economists,
globalization
implies greater opportunities, expanded trade, faster travel, better connectivity, and higher incomes.
But just as in the age of imperialism, the current wave of
globalization
is breeding its own resistance.
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