Which one of the following statements is correct about the nature of globalization?

Globalization is about world wide interconnectedness

The correct answer is Option (4) → Globalization is about world wide interconnectedness

Globalization is a multidimensional process involving not just economics but also politics, culture, technology, and environment.

The other options are incorrect because:

• It is not unidimensional (it covers many spheres).

• It does impact sovereignty (countries adjust policies due to global pressures).

• It is not limited to economic flows, but also includes cultural exchange, political ties, and environmental issues.