Globalization is the process of interconnection of the world. Latin America embraces cultures and territories of different nations. Therefore, these countries are connected in multidimensional way since the 1980s, which is the initiation time of globalization of Latin America. The components of multidimensionality include language, religion, culture, eating habit, sports, trade, etc. The positive effects of globalization include trade, production, labour market, and demographic improvement, while the negative effects comprise of divergence of communities, increased transitional, cross-border and rural–urban migration, and infrastructural deficit. However, in recent times, Latin America has been facing the reduction of the benefit of globalization for various reasons. This backwardness can be mitigated by filling up the gap between policy formulation and that of implementation. A snapshot of globalization of Latin America is described in the rest of the chapter.