Globalization describes an ongoing process by which regional economies, societies, and cultures have become integrated through a globe-spanning network of communication and trade.

..Privatisation is the process of divesting the government stake both in terms of money and control from public companies.

Privatization is the incidence or process of transferring ownership of a business, enterprise, agency or public service from the public sector (the state or government) to the private sector (businesses that operate for a private profit) or to private non-profit organizations. In a broader sense, privatization refers to transfer of any government function to the private sector - including governmental functions like revenue collection and law enforcement
where as, Globalization (or globalisation) describes the process by which regional economies, societies, and cultures have become integrated through a global network of communication, transportation, and trade. The term is sometimes used to refer specifically to economic globalization: the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology.However, globalization is usually recognized as being driven by a combination o ...more

Privatization. removing the controls from govt clutches and organise people participation
Globalization.. Cutting across national barriers inducing the product to all consumers

In simple language
Diff between Capitalism and communism

Privatization is Mechnisation of life for profit of business ,Globalisation is sustaining in mechnisation.