Third world countries are suffering by globalization?

good:
- open trade between countries, improving choices and quality of goods, better living standards.
- third world developing countries (namely transitional economies) need a lot of savings in order to develop further. Hot money flows from foreign firms and investors are very important. This also intend to be an injection into the economy stimulating aggregate demand.
- foreign businesses set up firms to take advantage of cheap labour force would also increase employment.
- more foreign direct investments and employment lead to higher consumption, which form a positive multiplier effect upon the economy which again increase income ...etc
- More culture/entrepreneurship that improves the skill/motivation of existing residences. It also brings better technologies into the production process which increase potential and actual output.

bad:
-Hot money flows are only good when they are stable. i.e. they are not injected and being taken away very soon which actually cause economic fluctuations. Like singapore in the 1990s.
- Most income are brought back to foreign countries (high GDP but low GNP) but nevertheless employment rate as well as domestic income increase.
- negative externalities - as you have said, many production process would harm the environment.
- More trades result in more choice, but on the other side of the coin it has inevitably increased competitions within industries which, third world countries with less productivities (due to lack to technology etc) may have less advantage on. This results in an increase in import but decrease in export, causing trade deficit, which also depreciate its currency.

According to the Harrod-Domar model growth = S/K where S stand for savings and K stand for capital. Increasing savings would higher growth rate.
There are quite a few different explanations by different growth models, but i don't think you should talk about them in detail.

hope it helps.

1. what is Globalization?
Its ONE big big market for all countries in the world.
Well, if its all about doing business, we should look at Globalization on a
business view.

2. What is the core about Business ?
Competition and profit.

3. Who is doing the biggest business in the world today ?
a. the developed countries, egt. US, UK, France....
b. the Multi-national Companies , eg. Shell, Microsoft.....

4. Are they taking most of the profit on the global business ?
Yes.

5. Is that Developing countries can run BIG Companies ?
Not so easy. They are at the poor side of the long long supply chain in
this global market.
eg. the African countries that produce the Coffee Beans, they cant make
good profit, even they are one of the major beans supply.

Now, we can draw our GOOD and BADs for Globalization :
Goods :
a. Efficient market
b. Chance for developing countries to sell more.
BADS :
a. Globalization is not equal to Fair Trade, the world is always unfair.
b. Moving onward to one big big market, many people find that they
loss their own heritage and culture.
Everybody is tasting the same European or USA style then.. .
People in different countries tends to have the same standard on everything.