Once upon a time there was a country. Year after year, that country funded the wrong projects, built the wrong infrastructure and bought the wrong things. Eventually, the accumulation of bad investment made that country so fragile that even the smallest shock could topple it.
Poverty reduction in the Third World has been tremendous, and more is yet to come. Besides, many goods and services are less expensive than they would without globalization. However, global capitalism isn’t working for the middle class in the USA: they are struggling to find or keeps (poorly paid) jobs, while the benefits are mostly being enjoyed by the C-suite.