The Bionic will work in many countries as a CDMA phone. I have used it in Mexico. If you have international calling enabled by verizon customer service, that will enable global calling and data from another country too. To disable Data roaming simply go into phone settings, Battery and data manager, data delivery and then uncheck data roaming.
You can also use the Bionic as a GSM phone by enabling the GSM bands and setting the phone to WCDMA. You can then insert another SIM and use it everywhere else in the world. It even functions on AT&T's HSPA 3.5G network here in the USA.