Meaning & use
global economy
Last updated
Meanings
nounsingular
The system of trade, production, and money that connects all countries around the world.
Grammar: Usually used with 'the': 'the global economy'. It is a singular noun, so use a singular verb: 'The global economy is growing.'
Patterns
- the global economy
- in the global economy
- affect the global economy
The global economy has become more connected because of technology.
A recession in one big country can hurt the global economy.
Many experts worry about the future of the global economy.
nounsingular
The total economic activity of all countries considered together, often as a single market.
Grammar: Often used in business or academic writing to talk about worldwide markets as one unit.
Patterns
- compete in the global economy
- a slowdown in the global economy
Small businesses now compete in the global economy.
The report analyzes the global economy as a whole.
China plays a major role in the global economy.
Common combinations
- the global economy grows
- The global economy grew by 3% last year.
- a slowdown in the global economy
- The pandemic caused a slowdown in the global economy.
- integrated into the global economy
- Many developing countries are now integrated into the global economy.
- the global economy recovers
- The global economy is slowly recovering from the crisis.
Synonyms and how they differ
- world economy
- Almost the same meaning; 'world economy' is slightly more common in everyday speech, while 'global economy' is often used in formal writing.
- international economy
- Focuses on trade and finance between countries, not necessarily the whole world as one system.
Word family
- global economic adjective
- Relating to the global economy, e.g. 'global economic growth'.
- globalization noun
- The process by which economies and cultures become more connected worldwide.
Commonly confused: global economy or global economic?
global economy vs global economic
This is an adjective, not a noun. You say 'global economic policy', not 'the global economic'.
Practice
Which sentence uses 'global economy' correctly?
Choose one answer.
The correct sentence is 'The global economy is growing fast.' 'Global economy' is singular, so it needs 'is'. Option 0 uses 'are' (wrong). Option 2 is missing 'The'. Option 3 uses the adjective 'economic' instead of the noun.
Make it your own
Write a sentence using “global economy”, then check it and compare it with the examples above.