Help me understand this sentence please

I am non English speaking person.

I have difficulty understand the following sentence which I read in the book world is flat by Thomas Fredman

Internet and global communications have greatly reduced economic and cultural advantages of developed countries.

Why the internet reduced economic and cultural advantages? I perfectly understand that the internet help globalization but reducing economic and cultural advantages in not clear to me.
Can you say reduce economy in English?

Can you clarify this simple sentence please.
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Thibault St john Cholmondeley-ffeatherstonehaugh the 2ndCommented:
It's the advantages that have been reduced, not the economy.
It's saying that there is now less difference between developed countries and the less developed.
☠ MASQ ☠Commented:
Perhaps if you change "advantages" to "differences" it would be easier to see what the author means.

He is explaining the globalization of the world due to the communications network the Internet provides.

A global marketplace reduces monopolies on business and information by developed countries as the less developed see opportunities to provide similar services more cheaply.

The Internet also gives exposure to cultures that previously developed counties had little knowledge of and allows them to dilute established culture.

Not a simple sentence but hope this helps :)

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Victor IeneaElectronics and automation engineerCommented:
Could you tell the chapter and the page of the book where is that written?
Internet and global communications have greatly reduced economic and cultural advantages of developed countries. add to some of the previous comments............
Internet and global communications include computers, cell phones, etc.
The lesser developed countries may have had economies that were weak. Their citizens and businesses and governments could not afford high tech cell phones capable of calling other countries. Or computer systems and networking. Now that these countries, all over the world, have opened up their borders to technology advances and technology companies based in the developed world, their citizens can now afford computers, phones, etc.

How many people in China had a personal home computer in 2002?
How many have one in 2012? The numbers may be staggering.

No longer are the developed countries, so far advanced and ahead of the others.
Advances in technology, and lower prices due to competition, have reduced the advantages.
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