What is Globalization? Globalization is often referred to as an economic policy or phenomena. Globalization is often explained as an extension of neoliberal development theory and practices. Globalization is defined as a method of neocolonialism. Globalization is a byproduct of technological advancements. Globalization is a result of economic reform and the removal of international trade barriers. There is no unified definition of globalization with the academic community or the world at larg...