Globalization boosts developing countries' growth potential and income equality.
Globalization can help developing countries grow by focusing on improving labor, education, technology, and productivity. Investing in skills is more beneficial in advanced economies. Trade and migration can boost the value of skills. Developing countries need a lot of capital and technology to grow faster. Openness to international trade and reducing regulations can help create industrial clusters and boost technology in low-income countries. Embracing all aspects of globalization at once can be more effective than doing it step by step.