The globalisation of the economy is anything but new. The most visible signs are the constant acceleration of international trade and foreign direct investments as well as the intensified competition, with the resulting effect of rising standards of living world-wide.
International competition does therefore no longer take place among companies only.
National and regional locations with their comparative advantages are involved in an increasingly intensive competition. This means that globalisation is first and foremost an opportunity. Each country and each company can now focus more clearly than ever on its economic strengths. Globalisation also involves risks, however. Market forces sanction unsuitable framework more thoroughly and more quickly than before.