In China Cheap Labor Is Becoming More Prevalent and It

question 41

True/False

In China cheap labor is becoming more prevalent and it is becoming increasingly easy for MNEs to reduce costs by operating there-all because unionization is decreasing.

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Definitions:

Binding Agreement

A legally enforceable contract that obligates the parties involved to adhere to the terms outlined within the agreement.

Bilateral Contract

A contract involving two parties where each promises to perform an act in exchange for the other's act.

Unilateral Contract

A contract in which one party makes a promise that the other party can accept only through an action, not a promise.

Accept

To receive something willingly or to agree to a proposition or offer.