The objection is because of testing, debugging, and getting compiler/autograder feedback.
Obviously, global data is powerful and allows us to do a lot. I let my students define top-level functions and use them globally throughout their programs, and as you say the import mechanism also gives us useful constants and functions to be used anywhere. We talk about how great global constants are for this reason.
The problem is mutation. When you have global mutable state, it becomes difficult to reason about the program. Code written in one part of the program can cause issues hundreds of lines later even though they are seemingly unrelated. You can no longer easily write simple unit tests to confirm that your program works as intended. Global mutable state also frustrates my attempts to use program analysis to give enhanced autograded feedback.
As a concrete example early in the course, we use the Turtle library to define a bunch of functions to write letters, and then they use those functions to write out their names. Difficulty ensues when I ask them to swap definitions and reuse the functions. One kind of issue they encounter is the Turtle library's reliance on global state, which makes it difficult to reason about where the cursor should be after you call a function.
You are thinking about the World example, but what about when they make a list of Coin objects? With global state, they start encountering very mysterious bugs related to the shared coin instances. When its all contained within the World object being passed around, we can write more coherent unit tests to debug this kind of trouble. In a class of 150, it's helpful to give them mechanisms like that.