Globalization Topic PageProcess by which different parts of the globe become interconnected by economic, social, cultural, and political means. Globalization has become increasingly rapid since the 1970s and 1980s as a result of developments in technology, communications, and trade liberalization. Critics of globalization fear the increasing power of unelected multinational corporations, financial markets, and non-government organizations (NGOs), whose decisions can have direct and rapid effects on ordinary citizens' l