Globalization - C. Samuel

"Will a new 'golden age' bring convergence?  Participation by developing countries in the earlier globalization of 1850-1900 was shallow and often based on unfavourable terms of trade...Today developing countries have the opportunity to play a far more active role. The potential for large gains is enormous. Whether they are realized will depend on the policy choices made by developing country governments...Globalization is unavoidable ... whether a new golden age arrives for all depends mostly on the responses of individual countries to this increasingly global economy."  for example , if the developing countries compete in the global markets and follow the policies as urged by the World Bank, they may succeed and be termed a winner, but if they fail to comply they automatically become a loser and losers are excluded from the production and consumption in a fiercely competitive global economy.  World Bank Report (1995): 53-54