An analyst has created the following table to compare the businesses of two multinational enterprises, Alpha and Beta. Basing her argument on internalization theory, she argues that one of them would be more likely to expand into the Chinese market through licensing, the other through FDI. Which company does she expect to expand through licensing? Explain your reasoning.

_ Ben Produces its product using a formula it has developed 'in-house'. A new plant would require an investment of $250 mu. Has a well-known brand name. Has a poor credit rating, making it difficult to borrow. Produces its product using a process that has been in widespread use since the 19th century. A new plant would require an investment of 550 mn. Sells a bulk comn'loditglI product that is quite similar to those of its oompetitors. Can easily borrow, thanks to its high credit rating