Policies that open economies strongly correlate with economic growth. By pulling countries into the international marketplace, globalization encourages market reforms. With them comes increased wealth. Concern over the distribution of income understandably remains, but if nothing is produced, there is nothing to distribute. And, in fact, globalization has shared its benefits widely.
Globalization also has important political ramifications.
Countries such as South Korea and Taiwan threw off authoritarian dictatorships once their burgeoning middle classes demanded political rights to match economic opportunities. International investment and trade also help dampen nationalism and militarism. Yet investment and trade create important economic incentives for peace. They also put a human face on people who might otherwise seem to be the enemy. The result is a better environment in which to promote international harmony.