Benefits from Globalisation:

Developing countries can reap the following benefits if their economies are fully integrated with the global economy.

i. Access to larger market resulting from widespread trade barriers. This would promote large scale production and economics of scale, especially in areas where they have comparative advantage.

ii. Increased employment opportunities as a result of the growth of local industries and access to foreign job opportunities.

iii. A steady inflow of foreign exchange from workers' remittances would boost the positions of developing countries in international trade, especially giving them access to foreign inputs required for rapid industrial growth.

iv. Contacts with developed nations would lead to acquisition of better skills, experience, and exposure to the latest technologies which are also relevant for economic growth.

To reap the benefits is listed above, governments in developing countries must introduce comprehensive economic and political reforms that would prevent their economies from becoming dumping grounds for the goods of developed nations. In this way, the benefits associated with globalization would translate into sustainable economic growth and remarkable reduction in the incidence of poverty across developing economies.