Final answer:
The global integration process represents the increasing interconnectedness of nations through government, culture, and finance, influenced by decolonization and the acceleration of globalization, particularly facilitated by advances in technology. The consequences of this process have been mixed, with both integrative benefits and potential drawbacks such as increased corporate influence and inequality.
Step-by-step explanation:
The global integration process signifies the growing interconnectedness and interdependence among countries in terms of governments, cultural norms, and financial markets. Over the past 60 years, this process has especially been influenced by decolonization and globalization. Decolonization led to the emergence of new nation-states from former colonial empires, fundamentally changing the political landscape and creating new opportunities for international collaboration and trade. Meanwhile, globalization has dramatically accelerated since the 1970s due to technological advancements in transportation and communication, leading to an intensification of global processes of production and consumption.
With the advent of the internet and improvements in logistics, integration has become more profound. The International Monetary Fund (IMF) identifies key aspects of globalization that include trade and transactions, capital and investment movements, migration and movement of people, and the dissemination of knowledge. However, this increased integration has come with its set of challenges and criticisms. It is argued that globalization can disproportionately benefit multinational corporations, potentially influencing political decisions and contributing to inequalities between nations.