Final answer:
Globalization has accelerated due to reduced transportation costs, advancements in digital communication, and international accords that encourage trade. The shift to service industries and increased global competition also contribute to the rapid spread of globalization.
Step-by-step explanation:
The process of globalization has increased rapidly due to several key factors. Technological advancements in shipping and air cargo have significantly lowered transportation costs, making it more feasible to move goods across long distances. In tandem, innovations in computing and telecommunications have revolutionized the management of long-distance economic connections, such as production and sales. These advancements have made it increasingly efficient to transfer many types of services and products, particularly those that can be digitized like software, media, and professional advice, across global networks at minimal cost. Moreover, the enactment of international agreements and treaties has facilitated and encouraged the expansion of global trade, further accelerating the pace of globalization.
An additional aspect that has played a role in the acceleration of globalization is the shift from manufacturing-centric economies to ones more focused on service industries. This transition has elevated the importance of information transfer and economic activities that can be conducted digitally, crossing international borders with ease. Also, globalization has introduced heightened levels of competition as companies are no longer solely competing within local or national markets but are exposed to competitors from around the globe.