Final answer:
Processes that are causing nations and people to be increasingly interlinked and mutually dependent are referred to as globalization. It is the expanding cultural, political, and economic connections between people around the world, measured through increased international trade and financial capital flows. Globalization has benefits and drawbacks, including economic growth and cooperation as well as challenges such as power concentration and global issues.
Step-by-step explanation:
Processes that are causing nations and people to be increasingly interlinked and mutually dependent are referred to as globalization. Globalization is the expanding cultural, political, and economic connections between people around the world, which is measured through increased international trade and financial capital flows. It is driven by factors such as improved technology, loosening of trade restrictions, and the interconnectedness of markets.
For example, multinational corporations like Walmart, McDonald's, and Ford trade across international borders and use labor and resources from different countries, creating dependent economic relationships. Additionally, countries become more integrated in the global economy as they rely on each other for goods, services, and resources.
Globalization has both benefits and drawbacks. While it promotes economic growth and cooperation, it also poses challenges such as the concentration of power in multinational corporations and the impact of global issues like climate change and terrorism.