Globalization refers to the increasing interconnectedness and interdependence of societies and economies around the world. It involves the flow of goods, services, capital, information, ideas, and people across national borders, facilitated by advancements in technology, communication, transportation, and trade.

Key features of globalization include:

1. Trade and Economic Integration: Globalization has led to the expansion of international trade and investment, as companies seek new markets, resources, and opportunities abroad. Trade agreements, such as free trade agreements and regional trade blocs, facilitate the movement of goods and services across borders. Additionally, multinational corporations operate across multiple countries, creating global supply chains and networks of production.
2. Cultural Exchange and Integration: Globalization promotes the exchange of cultural practices, beliefs, values, and traditions between different societies. This can lead to cultural hybridization, as elements of different cultures merge and interact. Cultural globalization is evident in the spread of languages, cuisines, music, films, fashion, and popular culture worldwide.
3. Technological Advancements: Advances in technology, particularly in information and communication technology (ICT), have played a significant role in driving globalization. The internet, smartphones, social media, and digital platforms have facilitated instantaneous communication and information sharing across continents. This has enabled businesses to operate globally, individuals to connect with others around the world, and ideas to spread rapidly.
4. Migration and Mobility: Globalization has facilitated increased migration and mobility of people across borders for various reasons, including work, education, tourism, and seeking refuge. Migration patterns are influenced by economic opportunities, political instability, environmental factors, and social networks. As a result, societies are becoming more diverse and multicultural.
5. Global Governance and Institutions: Globalization has led to the emergence of international organizations, such as the United Nations, World Trade Organization, International Monetary Fund, and World Bank, which aim to facilitate cooperation and address global challenges. These institutions set global standards, regulations, and policies in areas such as trade, finance, development, health, and the environment.

While globalization has led to increased economic growth, innovation, and cultural exchange, it has also sparked debates and concerns about its impact on inequality, environmental sustainability, cultural identity, labor rights, and sovereignty. Critics argue that globalization can exacerbate inequalities between and within countries, exploit labor and natural resources, and erode local cultures and traditions. Therefore, managing the effects of globalization and ensuring its benefits are equitably distributed remain significant challenges for policymakers and societies worldwide.