Introduction Antagonists of the process of globalization point out that the effects of globalization on emerging economies and developed states vary. Brittan (8) points out that globalization leads to the enhancement of prosperity in the developed states. However, it does not lead to deprivation in the developing states. As an illustration of development in the emerging economies, Brittan refers to the development of the Asian states economically. The economic development in the Asian states in the early 21 st century led to a decrease in the distorted allocation of profits between urbanized and emerging economies. Regardless of these encouraging progresses in a number of upcoming economies, several states are still poor and risk marginalization if they do not presently strive to be part of the global financial system. Hak-Min (2) diverges from the analysis of Brittan. Brittan observes that the allocation of profits between industrialized and countries of the periphery are less distorted. Hak-Min therefore observes that globalization in the integrated global financial system has led to an increase in production of goods and services in a few urbanized states. A large number of states inherited severe economic tribulations, which led to an increase in the revenue gap between industrialized and countries of the south. In1980 to1990, over 90% of the entire economic contacts of the world was executed in the 25 of the 121 states globally (Hak-Min 2). The capital of the less developed states in the worldwide investment was less than 1% of the entire global businesses. According to the CIA world fact book, these progressions were due to the expansion of entrepreneurship in the world. It can be pointed out that three regions including controlled the world trade. These regions include America, Europe and Japan. The three regions subjugated other regions as regards to the worldwide financial system. The three regions were liable for the 43% of the entire worldwide investment contacts and for 56 % of the entire businesses between 1980 and 1990. The CIA world fact book observes that countries of the periphery do not benefit from globalization. The IMF examined 42 states covering 90% of the world’s populace to establish a way that would eliminate economic gaps between states. The investigation arrived at the finale that the per capita percentage of manufacturing improved significantly since the beginning of the 20 th century. The difficulty was that the allocation of these resources among states was more tilted even at the start of the twentieth century. The United Nations growth information report of 1992 pointed out that the global profits were still much tilted. The report further stated that the revenue gap improved since 1960. This analysis is shared by Todaro (29) who pointed out that countries of the periphery acknowledged only a GDP development of 1.1% per year between 1960 and 1982. Similarly, the countries of the south experienced a standard GDP growth of 3.1 per year. The 2008 IMF report confirmed that the profits of the wealthier section of the earth developed six times more than those of developing states between 1990 and 2000. The report further indicated that growth in the c