The term "global objects" in this article means the objects that exists from the starting of the web server until the shutdown. An example of such global objects is a database proxy, which is initialized at server start, and handles database calls during all the serving session.
At the first look, it appeared to be no place for defining global objects, for mod_python runs on the per-request basis, with each request being mapped to a call.
However, mod_python has the advantage over CGI that a python interpreter is created for one virtual server to handle all requests to server. The interpreter starts when the server starts, and last until the server is shut down. Here is a reference for the multiple interpreter mechanism for the mod_python module.
To take this advantage, global variables can be place in the global namespace for the Python interpreter. For example, it could be intitilized from a module's namespace.