Finally, globalization enables firms to benefit from economies of scale in production, which is particularly important for firms in relatively small countries. ![]() ![]() Furthermore, globalization also results in increased competition, which, in turn, forces firms to engage in streamlining and improving their activities. Globalization leads to an increased level of specialization in countries’ production. One consequence of this is that a large share of workers are employed in foreign-owned firms, in firms that own foreign affiliates, and in exporting and offshoring firms. ![]()
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