Final answer:
Globalization is the integration among nations via trade and technology, promoted by institutions like the IMF and WTO. It has been criticized by the anti-globalization movement for fostering inequality and harming labor and environmental standards. Recent global events show a widespread backlash against its negative effects.
Step-by-step explanation:
Globalization refers to the process of increased interconnection and interdependence among countries, particularly in terms of trade, investment, and the spread of technology. This integration has been facilitated by international institutions that promote liberal economic policies, such as the World Bank (WB), International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD), and the World Trade Organization (WTO). However, it has faced significant opposition from the anti-globalization movement, which argues that globalization often contributes to the economic disparity between developed and developing nations, the erosion of labor conditions, and environmental degradation.
Recent years have witnessed a notable backlash against globalization, with events like Brexit and the election of Donald J. Trump as evidence of global discontent about issues like job loss, political sovereignty, and widening economic inequality.