Global Economy Definitions

The term Global Economy refers to an integrated world economy with unrestricted and free movement of goods, services and labor transitionally. It projects the picture of an increasingly inter-connected world with free movement of capital across countries, also. The concept of a global economy cannot be understood in isolation. For this, globalization needs to be defined first. Globalization may be defined as the integration of production and consumption in all markets across the world. (Economy Watch)