In recent years, the trend among U.S. firms is to outsource the "production" of certain service activities to developing nations where labor costs are lower.
True / False.

We currently live in a globalized world. Globalization is an economic and political phenomenon that has transformed the relations of production and labor. The companies started to produce in countries where the labor is cheaper, becoming consequently more competitive. Thus, US multinational companies outsource the manufacture of components of their products in different territories. For example, an Iphone has components made in China, Vietnam and others. This makes the final price of the iphone lower around the world.

In recent years, the trend among U.S. firms is to outsource the "production" of certain service activities to developing nations where labor costs are lower. True / False.

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In recent years, the trend among U.S. firms is to outsource the "production" of certain service activities to developing nations where labor costs are lower.
True / False.