Verb for a strong wave?

Inundate has the twin meanings of to flood and to overwhelm, and I think is quite appropriate for this context.

See http://i.word.com/idictionary/inundate for a sample reference.

swallow

: take in and cause to disappear; engulf. OED

sweep away

: to dispose of someone or something by pushing or brushing away. McGraw-Hill Dictionary of American Idioms and Phrasal Verbs

The wave of globalization is coming. It will sweep away everything on its path. We need to prepare for that

You've described a "storm surge" and your picture shows a "tidal wave"

In this context, devastate fits both the destruction caused by a surge and the effects of globalization on fragile economies.

It will devastate everything in the way.

devastate - (verb) - to destroy much or most of (something) : to cause great damage or harm to (something)

storm surge - A storm surge is a rise in sea level that occurs during tropical cyclones, intense storms also known as typhoons or hurricanes. The storms produce strong winds that push the water into shore, which can lead to flooding. This makes storm surges very dangerous for coastal regions.

It will devour everything in its way.

I like engulf as well, if the nuance you are looking for is the ubiquity, or you could go with "inundate" or even overwhelm. "Deluge" is another option if you're thinking more on the destructive side of things. The challenge is that deluge is more commonly used in the passive voice, which isn't necessarily ideal in writing.

The wave of globalization is coming. It will inundate everything in its way. We need to prepare for that.

The wave of globalization is coming, and everything will be deluged in its way. We need to prepare for that.

Crash would nicely echo the more usual, intransitive use of crash with wave.

Sweep away or sweep off in case crash sounds too violent for the destruction you're trying to express.

Wipe out would be the next gentler degree of destruction. (Think surfer talk - getting wiped out by a wave sets you back, but it doesn't annihilate you; you can still get back up.)

The sentence may as well be restructured as given below (if you think it's a good fit):

It will raze everything in its wake.

Theres this one Ascendo tuum ,it originates from latin, literally means to ascend and fall

How about 'submerge' ?

'Submerge' would be in keeping with the metaphor (wave).

submerge: to cause (someone or something) to be completely under water or the surface of a liquid.