Economic Globalization is associated with protectionism where a government encourages domestic production and discriminating foreign investors.

Actually, the statement is not entirely correct. Economic globalization is typically associated with the opposite of protectionism. It involves the integration of national economies into the international economy through trade, foreign direct investment, capital flows, migration, and the spread of technology. This process is driven by international trade and investment and aided by information technology.

Protectionism, on the other hand, is a policy that restricts international trade to help domestic industries. This is done through methods such as tariffs on imported goods, restrictive quotas, and a variety of other government regulations designed to discourage imports and prevent foreign takeover of local markets and companies.

So, while economic globalization and protectionism are both significant factors in the global economy, they represent different approaches. Globalization encourages open trade and investment between nations, while protectionism seeks to protect domestic industries from foreign competition.