There are many aims that have been articulated with respect to national qualifications frameworks (NQFs). Among them are those concerned with transparency, which is to say, that it is assumed that once employers understand the competencies of employees, as defined by their education credentials, then the mismatch between what employers are looking for and what potential employees can offer is reduced. A further aim is that in an era of economic globalisation the certificates that frameworks issue should be transferable across nations because they should itemise the competencies that potential employees have demonstrated. In this article, several key trends that appear to be emerging as a result of economic globalisation are discussed. When these trends are considered together they raise some fundamental questions for NQFs. (Contains 2 tables and 6 notes.)