Globalisation offers many benefits.
In a more open international trading system consumers gain from more competitive pricing of goods and services. Products gain from the wider dispersion of knowledge, improved access to factors of production and the opening up of new markets. The increasing integration of financial markets and investment flows is transforming opportunities for business expansion worldwide, not least for the countries of the developing world. Exports of components have come to form an increasingly large share of the exports of developing countries. Both domestic and international firms have set up new factories in these countries, creating new jobs, transferring know-how and offering new market prospects.