Globalization has changed how money is shared around the world, especially since the late 20th century. Here are some key points to understand:

1. Differences in Economic Growth:

   • Globalization has helped some developing countries grow their economies faster. For example, between 1990 and 2019, countries like China and India grew at about 6.5% and 6.0% each year. This is much better than the global average of 3.5%.
   • But not everyone has benefited equally. The World Bank notes that in East Asia and the Pacific, the number of people in poverty dropped from 49% in 1990 to just 7% in 2018. In contrast, in Sub-Saharan Africa, the rate hardly changed, going from 56% to 41% during the same time.

2. Changes in Job Markets:

   • Globalization has changed job markets, often helping people with higher skills more than those with lower skills. A report from the OECD shows that jobs needing advanced skills have increased while low-skill jobs have decreased. This has led to big differences in pay.
   • For example, in the United States, from 1979 to 2019, the top 10% of earners saw their wages go up by 32%, while those in the bottom 10% only saw a small increase of 4%.

3. Movement of Money:

   • There has been a lot more money moving between countries. This has created chances for wealthy countries and people to make even more money. The International Monetary Fund (IMF) reported that global foreign direct investment (FDI) hit an amazing $1.54 trillion in 2019, but developing countries only got$697 billion of it.
   • Wealth inequality has worsened, with the richest 1% of people owning over 44% of the world’s wealth, according to Credit Suisse's Global Wealth Report 2021.

4. Trade Policies and Dependence:

   • Changes in trade rules have mostly helped wealthy countries more than developing ones. For instance, the World Trade Organization (WTO) reported that from 1995 to 2016, trade changes gave developed countries an extra $260 billion in income. Meanwhile, developing nations didn’t gain much due to unfair trade conditions.

In short, while globalization has helped some areas grow, it has also made economic inequality worse, resulting in a world where wealth is not shared fairly.