Each page and CMS entry is translatable. When creating fields for a Collection, mark whether that field is translatable (some fields won't need translation, like references to other collections, price fields, etc).
An option for Links should be added to choose a language (in addition to external links, pages within the site, etc).
We're excited that we're on track to deliver our first release of localization to all customers. Read our blog post to learn more about the scope of what we're building to help you localize your website for customers across multiple languages and regions.
Read more about our localization efforts ↗︎