globalization - ProFile 3 UNIT 4 Globalization...

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Photocopiable © Oxford University Press Off-shoring means that jobs in other industries are lost and are exported to other countries, which my be less concerned with social protection and safety controls. In this working environment, workers experience an industrial serfdom. The hope of today’s developed countries is that they can maintain a competitive edge through innovation in high-tech industries and new fields such as bio-technology. POWER OF MULTINATIONALS It is undoubtedly true that multinational companies have contributed greatly to the development and prosperity of poorer countries where they have installed themselves. However, they are accused of abusing their financial power to play the workforce from one part of the world off against another, and of even destabilizing nation states. They can make their profits appear in the part of the organization where the lowest taxes apply. They will follow tax breaks and concessions by host-nation governments and
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