Both sentences are correct.
Liberal approaches leading to modernization are tightly related to economic globalization.
Liberal approaches to modernization are closely linked to economic globalization.
Here is a quick observation regarding your request for assistance.
The following is what I paraphrase the above statement; correct me if I am wrong. Thanks.
I would recommend the following: I am paraphrasing the above statement. Please let me know what corrections, if any, need to be made. Thank you.