Economic growth accelerated and poverty declined globally
following the acceleration of globalization.
Per capita GDP growth in the post-1980 globalizes
accelerated from 1.4 percent a year in the 1960s and 2.9 percent a year in the
1970s to 3.5 percent in the 1980s and 5.0 percent in the 1990s. This
acceleration in growth is even more remarkable given that the rich countries
saw steady declines in growth from a high of 4.7 percent in the 1960s to 2.2
percent in the 1990s. Also, the non-globalizing developing countries did much
worse than the globalizers, with the former's annual growth rates falling from
highs of 3.3 percent during the 1970s to only 1.4 percent during the 1990s.
This rapid growth among the globalizers is not simply due to the strong
performances of China and India in the 1980s and 1990s—18 out of the 24
globalizers experienced increases in growth, many of them quite
substantial."
Growth Rate of Real GDP per capita
According to the International Monetary Fund, growth
benefits of economic globalization are widely shared. While several globalizers
have seen an increase in inequality, most notably China, this increase in
inequality is a result of domestic liberalization, restrictions on internal
migration, and agricultural policies, rather than a result of international
trade.