This article adopts the critical theory approach to reflect and analyse the impacts of globalization on the internationalization process of higher education in the Asia-Pacific region. It argues that globalization forces many of the higher education institutions in the region to follow global practices and ideologies of the Anglo-American paradigm without developing their own unique systems and honouring the rich cultures of their own countries. While higher education institutions are indulging in internationalization in terms of marketization and economic pragmatism, they have to ask themselves, "What is missing in the process of internationalization?" This article argues that internationalization of higher education contributes to building more than economically competitive and politically powerful states. It represents a commitment to the development of an internationalized curriculum where the pursuit of global citizenship, human harmony and a climate of global peace is of paramount importance. (Contains 2 tables.)