The fourth phase of globalization ________.
A) is characterized by the rise of electricity and steel production
B) is characterized by the rise of MNEs from Japan
C) witnessed the Bretton Woods Conference of twenty-three nations in 1947 that led to the General Agreement on Tariffs and Trade
D) facilitated the globalization of the service sector in such areas as banking and retailing
Question 2
Which of the following is a major challenge often faced by focal firms that engage in global sourcing?
A) no control over the quality of outputs
B) domestic management of local distribution
C) increased costs of business travel
D) lower-than-expected cost savings
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