What describes the process where societies become more interconnected through trade and technology?

Globalization refers to the process by which societies and economies become increasingly interconnected and interdependent, largely as a result of trade, technology, and the exchange of information and culture. This phenomenon has accelerated in recent decades due to advancements in communication and transportation technology, enabling goods, services, and ideas to flow across borders with greater ease.

In a globalized world, local markets and cultures can be influenced by global trends, leading to increased economic collaboration as well as the sharing of innovations and practices among different societies. The implications of globalization can be seen in various domains, including economics, politics, environmental issues, and social relations, as nations work together to address global challenges.

Nationalization refers to the process of transferring private assets into public ownership, which primarily impacts specific industries or sectors within a national context rather than emphasizing interconnectedness across multiple societies. Localization focuses on enhancing local economies and communities, sometimes counteracting globalization's effects by prioritizing local resources and markets. Monopolization involves the consolidation of market power in a single entity, which contradicts the diversified and interconnected markets that characterize globalization.