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On the other hand, benefits from globalization in booming times are not necessarily shared widely and equally in the global community. The costs of the repeated crises associated with economic and financial globalization appear to have been borne overwhelmingly by the developing world, and often disproportionately so by the poor who are the most vulnerable. The downside of globalization is most vividly epitomized at times of periodical global financial and economic crises. The risks and costs brought about by globalization can be significant for fragile developing economies and the world’s poor. A question that is often raised is whether the actual distribution of gains is fair and whether the poor benefit less than proportionately from globalization-and could under some circumstances actually be hurt by it. While the potential for povertyreduction is great, the extent of it will depend on many factors including, in particular, the pattern of growth followed by the developed and developing countries and the overall global policy framework. The process of globalization provides a golden opportunity for mankind to contribute to a major reduction of poverty world-wide.