Academic works translated into as many languages as possible would greatly benefit students of all ages. The trick is that academic work needs to be in contemporary times. Some concepts are simply outdated and shouldn't be translated. Modern teachings and academic tomes are very appropriate for today's educational standards across the globe.
The more we can understand others and help them understand us, the easier it is to find peaceful resolutions to conflict. All knowledge is useful, there is just pieces of knowledge we have not yet found the use for. If by academic we mean the fuzzy and non scientific works being done around the world, than the use is in creating a common reference system so that we can communicate.
The process of the translation of academic works into the languages of developing countries would benefit the entire world community by allowing the citizens of these countries access to educational materials. This would allow these people to get the skills necessary to be productive member of the international community and improve their quality of life.
Developing countries need more knowledge to help them improve their lives and other peoples lives throughout the world. Sharing knowledge via translating it into their language would only serve to help everyone. A country that knows little may one day become a country that could rival our own power and knowledge.
The translation of academic work into the languages of developing countries would not benefit the world as a whole. Making one language universal throughout would probably be a better thing then everyone speaks the same and we can all understand each other. But going and learning that many languages to understand each other is a waste of time.