Globalization describes the ongoing global trend toward the freer flow of trade and investment across borders and the resulting integration of the international economy. Because it expands economic freedom and spurs competition, globalization is believed to raise the productivity and living standards of people in countries that open themselves to the global marketplace. Globalization has evolved since Columbus and de Gama sailed from Europe more than 500 years ago. This paper surveys the economic growth associated with globalization. Doing so, it investigates the dynamics between openness, poverty, inequality, and globalization. It also explores the methods that could have been utilized by the developing countries.