Final answer:
Advancements in information technology are the primary reason for the accelerated pace of global interaction, fostering globalization by improving communication and reducing costs of transferring goods and services.
Step-by-step explanation:
The primary reason for the accelerated pace of global interaction is advancements in information technology. These advancements have dramatically reduced the costs and complexities of long-distance communication and facilitated the management of global production and sales. Furthermore, the rise of the internet and telecommunications infrastructure has made a vast array of products and services easily transferable across the globe. These range from digital products like computer software and media content to professional services such as financial advice and design plans. Coupled with reductions in trade barriers like tariffs and quotas, and enhanced transportation systems, these technological improvements have significantly increased the flow of goods, services, and knowledge, playing a key role in the process of globalization.