What is globalization? Factors of globalization

Globalization refers to the increasing integration and interdependence of world economies, technologies, and cultures. While a form of globalization has existed throughout history, the current period began accelerating in the late 20th century due to several factors: advances in technology and transportation that facilitated the rapid movement of capital, goods, and information across borders; the growth of international organizations that promoted cooperation between countries; liberalization policies that reduced restrictions on trade; and the fall of communism which allowed formerly closed economies to enter the global marketplace.