At the dawn of the 21st century, had significant ramifications for companies and strategies around the world

All of the above.

Explanation:

At the beginning of the 21st century, the protest related to the anti-globalization, terrorist attack and the crisis with regard to the corporate governance have an important ramifications for the companies & strategies across the world

So as per the given situation, all the reasons should be considered

Therefore it is the all of the above

answer; ///pegged exchange rate with the united states;