What does globalization refer to?

Globalization refers to the integration of communication and interaction among people, companies, and governments worldwide. It encompasses a wide array of processes, including the flow of information, cultural exchange, trade, and economic interdependence that transcends national boundaries. This integration means that communication technologies—such as the internet, telecommunication systems, and social media—play a crucial role in connecting individuals and markets across the globe, facilitating both the exchange of ideas and the operation of businesses on a global scale.

The concept of globalization emphasizes interconnectedness, as it allows for the rapid sharing of knowledge and cultural influences across different regions. This phenomenon has led to the merging of economies and has enabled various cultures to interact and influence each other, thus reshaping lifestyles and business practices worldwide.