The paper examines the globalization of human trafficking and modern slavery, with the specific objectives to; identify the psychological, political and economic implications of human trafficking and modern slavery globally. To achieve its objectives, Mixed Methods-- qualitative and quantitative methods of data collection were adopted in its methodology. In the qualitative method, the study employed content analysis of UNODC and ILO reports, along with peer-reviewed journals on migration and trafficking. Observational data were drawn from documented case studies and news reports in Africa, Europe, and the Americas. While the quantitative data entailed tabulated numeric figures on the global prevalence of human trafficking and modern slavery, adapted from document screening of Statista (2025): spanning the countries of the African region, Europe and Central Asia, and the Americas. The paper made some findings, a few of these include: the globalization of human trafficking and modern slavery are interlinked with certain psychological, political and economic implications that are deleterious at various multiple levels of the individual victims, national, and global level; besides, unbridled nature of 'global capitalism' (the dark side of globalization) was identified as the chief causal driver of the prevailing globalization of human trafficking and modern slavery; inter alia. The paper therefore recommends as follow: there should be stricter anti-human trafficking policies and sincere commitment of global leaders towards curbing the menace; National governments should commence awareness campaigns for their citizenry on strategies of the traffickers to prevent them from falling victims; inter alia.