Globalization has been a matter of debate for a long time, though countries have adopted its functionality over the years. It is a throbbing matter that triggers with the local economic interest rising atop in developing economies. Political relationships between such countries or politico-economic groups play a crucial role in shaping both the regional and global economic landscape. Common political ideologies and purchasing power parity with developed nations help in building favorable trade and economy ties, and engage friendly countries in higher levels of trade, while the political disagreements among the countries often lead to non-prolific economic interactions. With the increasing impact of information and communication technology, the global perspective on agile and innovative business deals with global competition using AI and ML technologies to gain competitive advantages across trade and economy regions. Such business moves enhancing intellectual capabilities and enterprising expertise of an organization represent a factor critical to standing in the global competition. This chapter discusses the changing sphere of globalization and its impact on international trade and regional business amidst politico-economic dynamics. The effects of shifts in political philosophies of global powers on developing economies have been discussed in this chapter in reference to the global sourcing and convergence of people, power, and profit concerns of corporations.