1. Discuss the challenges China faces as it continues its experiment in "socialism with Chinese characteristics."2. As we have seen, currently the WTO cannot get involved in punishing individual companies—its actions can only be directed toward governments of countries. Do you think this is a wise policy? Why or why not? Why do you think the WTO was not given authority to charge individual companies with dumping? Explain.3. In no more than 150 words summarise the article "Claessens, S. et al. (2010). Cross-country experiences and policy implications from the global financial crisis. Economic Policy. pp. 267-293."4. What does going global mean? How do companies benefit by going global?5. Why does outsourcing reduce the need for vertical integration? Discuss using examples?6. Find five examples of companies taking advantage of location economies.7. You are the manager of a publishing company in China, whose focus is on developing English language books for people from non-English speaking countries. As part of the content development phase, you have decided to hire some native English speakers to work on the project. After these employees have worked with you for two weeks, you notice several of them are not performing well at work and seem to be depressed and lacking motivation. When you confront them about this, they inform you that they are homesick and do not feel comfortable in the Chinese culture. They are suffering from culture shock. What strategies can you take to overcome this situation? Should you fire them?