always global since nations always trad? so was it not called global economy in 1742, or 1871, or 1954, or even 1982???

why is it global economy now....and who decided that it would be like that and why?

I have a feeling that the use of the term global is sort of code for world economy where its a free for all by corporations to find the cheapest labor where they can get it to make a good and sell it where they can get the best profits. to me ..thats what I hear when I hear global economy...someone is trying to tell me ..by code that its ok to accept that notion of the race to the bottom for cheap labor.