Let's define global capitalism as market economy combined with relatively free movement of labor (people) and capital. This is approximately world we live in. We have an unequal world to begin with:
Given awareness of this inequality, people who are in the low income countries want to move to those with high incomes:
And in terms of where they want to move to specifically:
This is not strictly a map of wealthy countries but also large countries. A moment's reflection will tell you why. Suppose you are a random peasant living in Pakistan, Niger, or Laos. Where do you want to move to? Well, somewhere more prosperous, of course. But you haven't memorized all 200 countries in the world, so when mr. survey guy asks you where you move to move to, you mention the first that occurs to you. Only 1% of people mentioned Sweden but that's because most people in poor countries never heard of Sweden to begin with.
Since many people do in fact manage to migrate despite borders and various laws against this, we can theoretically fast forward this process and predict what the future will be like. Poor countries will be depopulated to some extent, counteracted by their higher than average fertility rates:
Wealthy countries will increase in population size due to migration (faster than they decline due to below replacement fertility). However, at the same time, the human capital average in wealthy countries will decline due to migration from lower human capital populations. Thus, if we fast forward towards the stable equilibrium for migration, the result will be that every country ends up at approximately the same level of human capital and wealth, whereby desired to migrate to and from that country is at equilibrium.
This moving around of the world's human capital will not affect the average of the world by itself, but it is strongly reduce the variation. Countries will all end up with, say, 80 IQ. Insofar as mating occurs across populations, the dispersion will decline within countries as well. Here's the American situation:
Most ethnics marry within their group, but not all of them, and all of them engage in some level of outbreeding. If we wait long enough (100s of years), there will be genetic panmixia. In that world, there will be no purebred ethnics left, and no high or low intelligence genetic clusters as we see now. This world will have a dramatically lower variation in intelligence. There will be very few people above 130 IQ.
With the current rates of movement of peoples, it will take hundreds of years before this end stage is reached. Any number of things can cause it to slow down or quicken, say, strict immigration controls, or globalist AI dictatorship. My point is not to make a specific prediction for when, but just to point out that this is the necessary result of globalist capitalism like open border libertarians advocate (e.g. Bryan Caplan). Every country on Earth will be average. Sociologists rejoice! Since most innovation depends on the right tail of intelligence, this is a very bad outcome for human civilization.
"Since most innovation depends on the right tail of intelligence, this is a very bad outcome for human civilization."
Indeed it is. When something is diluted, it is less of what it was. This also applies to populations.
That sounds like a very unlikely outcome. People choose a partner with similar intelligence, not a random partner.