Which of the following has been a key driver for firms to expand globally during the globalization 3.0 stage?
A) Benefits from lower labor costs in manufacturing and services
B) Access to low-cost raw materials such as lumber and iron ore
C) Low levels of economic growth in emerging economies
D) Inefficient infrastructure in countries like China, which have brought down setting-up costs

Question

Quizplus · Accepted Answer

Access to low-cost raw materials such as lumber, iron ore, oil, and coal was a key driver behind Globalization 1.0 and 2.0. During Globalization 3.0, firms have expanded globally to benefit from lower labor costs in manufacturing and services.

Which of the Following Has Been a Key Driver for Firms