Maximizing benefits of globalization

Minimizing disadvantages of globalization
Protecting against undesired globalization impacts

Description

Globalization remains potentially a powerful and dynamic force for growth and development. It can improve the overall performance of developing countries' economies by opening up market opportunities for their exports, by promoting the transfer of information, skills and technology and by increasing the financial resources available for investment in physical and intangible assets. Maximizing the benefits of globalization requires sound domestic policies supported by an enabling global environment and by international economic cooperation. It also requires that the international community address the imbalances and asymmetries in the international economy. Bilateral and multilateral efforts are also needed to safeguard vulnerable populations, especially during times of economic crisis.

Claim

1. Benefits of globalization should be more widely shared among and within countries, as there is no automatic process by which the income levels of developing countries will converge towards those of developed countries.