Final answer:
Globalization is marked by the interconnectedness of global markets, economies, and technologies, and has evolved through phases from military expansion to an era of technology-driven change. Technological advances are a primary driver, although inequalities persist. Contrary to peaking in the past, globalization continues to influence how corporations and individuals engage globally.
Step-by-step explanation:
Characteristics of Globalization:
Globalization is characterized by the increasing interconnectedness of global markets, economies, and technologies. This phenomenon has been largely driven by advancements in technology, such as the Internet and personal computing, which have fundamentally changed core economic concepts, as Thomas Friedman describes in his book The World Is Flat. Initially, globalization was propelled by military expansion using horsepower and wind power, but it has evolved through different periods where trade and steam power played significant roles, culminating in the current era where technology, particularly the Internet, is the primary catalyst.
The process of globalization involves not just technology but also cultural, political, and economic connections between people across the globe. International trade and capital flows are key indicators of this trend. It is a complex process that is not solely defined by the role of developed economies or by a peak in the late 20th century but continues to shape our world, allowing corporations and individuals to operate on a global scale.
However, while technology has facilitated a more connected world, it has not eradicated inequalities; opportunities still tend to cluster in geographically advantaged areas. Full technological equality is a distant goal, suggesting that while technology has flattened the globe in some respects, it has also highlighted disparities.