This chapter analyses the relationship between globalisation and extreme poverty, arguing that globalisation is a conditional, rather than automatic, mechanism for poverty reduction. While the expansion of trade, foreign direct investment, and technological diffusion has coincided with an unprecedented decline in global extreme poverty since the 1980s, these gains have not been universal. Regions with weak institutions, limited state capacity, and persistent conflict have remained largely excluded from the benefits of global integration. Drawing on theoretical and empirical evidence, the chapter shows that the poverty impacts of globalisation operate through trade-led growth and labour-market effects, productivity gains from foreign direct investment and participation in global value chains, and exposure to financial volatility, but that the effectiveness of these channels is fundamentally conditioned by institutional quality, state capacity, and social protection systems. The chapter concludes that globalisation reduces poverty only when supported by strong institutions, inclusive governance, human capital investment, and effective social protection systems.