Global sourcing has gained momentum in the current phase of globalization.

Question

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Globalization has led to greater connectivity and interdependence between countries, making it easier for businesses to engage in global sourcing. This trend has been fuelled by advancements in technology and transportation, which have reduced barriers to trade and made it possible for businesses to access a wider range of suppliers and resources from around the world. As a result, global sourcing has become an increasingly popular strategy, allowing businesses to cut costs, improve quality, and access new markets.

Global Sourcing Has Gained Momentum in the Current Phase of Globalization