Globalisation, what is it? In most basic terms, the globalisation of the world economy is the integration of economies throughout the world, through trade, financial flows, the exchange of technology and information and the movement of people. So therefore the slowing of globalisation is more or less an action of putting a halt on the speed at which the above affect the world economy, more especially the impoverished nations, the Less Developed Countries (LDC"s), otherwise known as the poor. Throughout the course of this essay I will show and prove how the process of economic liberalisation and integration of LDC"s into the global economy provide opportunities to the poor. Also, how they have increased their economic growth, hence improving the standards of living for the poor, and how any slowing of the globalisation process will in effect worsen the position, which the poor already reside.

             Globalisation is altering the world as we know it in crucial ways. It is driven by a widespread push toward the liberalisation of trade and capital markets that is hastily breaking barriers of the international market. Trade as a portion of Gross Domestic Product (GDP) of Developing Countries (DC"s) had risen 33 per cent in the mid-eighties to 43 per cent in 1996, and is still growing. .

             Many, many countries of the developing world have as a result of globalisation made substantial progress in economic development over the past few decades. The progress has been most significant in East Asia. These countries have achieved swift economic growth, with economies like China, Singapore, Malaysia, Thailand, South Korea and Taiwan all experiencing an average growth rate of 6 per cent in 1996. Many of these Asian countries have begun to attract Foreign Direct Investment, in various sectors from horticulture to infrastructural zones.

             They have gained recognition in forming internationally competitive industries, obtained a growing share of world export markets and reaped the benefits of massive physical and capital investment.