Globalization refers to the increasing interconnectedness of economies, societies, and cultures through trade, technology, investment, and communication. Its modern phase began after World War II, with institutions like the International Monetary Fund (IMF), the World Bank, and later the World Trade Organization (WTO) promoting free trade and economic cooperation. For developing countries, globalization accelerated in the late 20th century when many nations opened their markets, reduced tariffs, and sought foreign investment to spur growth. This period coincided with the rise of multinational corporations and global supply chains that linked factories in Asia, Africa, and Latin America to consumers worldwide. Technological advancements, especially in communication and transport, made participation in the global economy more accessible. At the same time, global agreements and financial reforms influenced how developing nations managed industries, labor, and resources. Today, globalization shapes nearly every aspect of development policy—from manufacturing and agriculture to education and digital infrastructure. It also intertwines with regional partnerships such as ASEAN, MERCOSUR, and the African Continental Free Trade Area, which aim to strengthen collective economic positions. The concept therefore encompasses not only trade but also migration, cultural exchange, and global governance, making it a defining force in how developing nations engage with the modern world.