Globalization, aided by the development of the Internet and ease of travel, has permanently changed the world for both better and worse (Friedman, 2008). For this article, we examine the relative dangers and benefits of globalization for developing countries and how they can leverage the benefits and avoid the dangers of globalization. What is globalization? There is a vast literature on globalization. Most authors have defined globalization as the growing economic interdependence between countries. Friedman (2008) defines globalization as globalized trade, political forces, supply chain, and outsourcing. Palmer (2004) defines globalization as a complex global system in which state-imposed restrictions are eliminated. Developing countries have been characterized by state-led economic development that has not been sustainable and has resulted in heavy indebtedness due to mismanagement of state debt. Hurst (2005) demonstrates through documentation how developing countries have failed to manage borrowed funds to support economic growth. Therefore equity investments and capital inflows from...