Modernization of developing nations

We have all heard of the increasing modernization in nations such as China, but how does this modernization really affect the people of that nation. Is this another example of a few wealthy citizens increasing their holdings, or does the industrialization of third world countries really benifit the population as a whole. Also US corporations play a major part in this modernization, is it possible that this goes to increase the gap between the haves and the have nots, or is this spread of commerce equally benificial to all members of US society in the form of direct monetary benifits or long term benifits such as increases in employment and median income?