The phrase "global crisis" refers to a situation that affects the entire world and causes significant problems or challenges. It means that the crisis is not limited to a specific country or region but has worldwide implications. Full definition
The current global crisis of depressive illness has a simple root cause: a failure of treatment. (newscientist.com)
The current global crisis results from believing borrowing could sustainably restore the demand lost through low real wages. (nextleft.org)
Until supplies are tighter, or one of our many global crises comes to a head and causes an oil price spike, the Canadian economy can't expect much from their energy sector. (jonathanhtodd.com)