Final answer:
Globalization best describes the growing economic links between nations, integrating global economies through international trade and cultural exchange, not a decline in trade or rise of trade barriers.
Step-by-step explanation:
Globalization refers to the increasing economic, political, cultural, and social interconnectivity and interdependence among the nations of the world. This process extends beyond the mere expansion of international trade; it also encompasses the integration of financial markets, governments, and cultures into a cohesive global economy and community. A key aspect of globalization is the significant growth in economic links between nations, which includes the heightened flow of goods, services, and capital across national borders.
Over recent decades, globalization has been characterized by the rise of multinational corporations, and by countries tapping into global markets for resources and labor to produce products and services. Critics of globalization highlight concerns surrounding the power of multinational corporations, the potential loss of jobs to overseas markets, and the implications for environmental protection standards and worker pay. Nonetheless, globalization also brings about opportunities for market expansion, increased access to healthcare, and efforts like providing clean-water technology to areas in need.
Therefore, the definition that best describes the meaning of globalization would be the growing economic links between the nations of the world, as opposed to a decline in trade or creation of trade barriers.