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global capitalism
/ɡlˈoʊbəl kˈæpɪɾəlˌɪzəm/
/ɡlˈəʊbəl kˈapɪtəlˌɪzəm/
Global capitalism
01
the economic system characterized by private ownership, free markets, and global trade that operates on a global scale
Examples
Global capitalism has led to the rise of multinational corporations dominating markets worldwide.
Critics argue that global capitalism exacerbates inequality between wealthy and poor nations.
