A Shrinking World
Globalization refers to the increasing interconnectedness of societies through flows of capital, goods, information, people, and ideas across national borders. Economic globalization — transnational corporations, global supply chains, free trade agreements — has integrated markets so thoroughly that a disruption in a Taiwanese semiconductor factory affects car production in Germany and phone availability in Brazil. Cultural globalization spreads music, film, fashion, food, and values worldwide — K-pop from South Korea, Bollywood from India, and American fast food are consumed globally. Political globalization involves international governance bodies (UN, WHO, WTO) and transnational challenges (climate change, pandemics) that no single nation can address alone.