Does a higher degree of globalization lead to a higher degree of stability and peace? This is a classical and interesting discussion. The world before World War I was arguably highly globalized. I failed to find a comprehensive summary of the arguments and counter-arguments, but here a few links:

“The First World War in the History of Globalization”

https://www.etown.edu/offices/president/2014-11-14-WW1-Globa...

The world today looks ominously like it did before World War I

https://www.washingtonpost.com/news/wonk/wp/2016/12/29/the-w...

Globalization = No War? Does an increasingly economically interconnected world cut the chance of war? Maybe, but it doesn’t eliminate it.

https://thediplomat.com/2011/08/globalization-no-war/

We mustn’t fall for The Great Illusion again

https://www.telegraph.co.uk/news/worldnews/asia/china/955570...

The Great Illusion

https://www.nytimes.com/2008/08/15/opinion/15krugman.html

IMHO, the argument is partially true. But on the other hand, it increases the complexity of the system, and makes many otherwise unlikely "failure modes" possible.