Globalization, Culture, and Economics

• Globalization increases integration/interdependence and competition, potentially causing unemployment and environmental issues.
• India, compared to Canada, exhibits higher long-term orientation and power distance based on Hofstede's cultural classifications.
• Canada's economic system features elements of both mixed and market economies.
• Basic drivers of culture include values, norms, attitudes, and behavior.
• Command economic systems have demonstrated lower innovation and economic growth rates.
• Corruption represents a significant political risk in Brazil.
• Cultural factors are not a key feature of Porter's theory of National Competitive Advantage.
• Industry 4.0 technologies do not increase the cost of international trade or slow down economic growth as they accelerate international trade transactions.
• Culture is a social construct, and cultural knowledge is learned, not innate.

Key Factors Influencing Government Efficiency

• Technological infrastructure and bureaucracy are key factors influencing government efficiency.
• Export processing zones are not a policy instrument governments use to discourage imports.
• Assertiveness is a typical characteristic of masculine cultures, according to Hofstede.
• Key capabilities of cultural intelligence involve adapting to and behaving appropriately in diverse cultural settings.
• Communist political ideology supports greater government involvement in all spheres of life.
• The global cut flower industry follows a buyer-driven global value chain governance framework.
• In a mixed economic system, product distribution involves market prices, and the government owns some major means of production.
• Government subsidies to home country businesses are better explained by Paul Krugman’s New Trade theory.
• Foreign firms remaining in Russia amidst Ukraine war sanctions may face high political risk and earn protection rents.
• Selling at the same price in all markets is not one of the key measures for protecting intellectual property in high-risk countries.
• A good understanding of how a market economic system works is not a factor causing cultural inertia in economies in transition from command to market economic system.
• Unlike classical international trade theory, the New Trade Theory (NTT) examines industry-specific firm behavior to explain international trade patterns.
• Industry 4.0 technologies is not a main factor accelerating globalization.
• The four major forms of totalitarian regimes are theocratic, communist, tribal, and right-wing.
• Market economic systems are characterized by private ownership and a market-price distribution system.
• Research and development, design, and raw material extraction are upstream activities, while assembling, marketing, and customer service are downstream value chain activities.
• A multi-domestic corporation highly adapts its product value chain activities to the local host country, repeating its entire value chain in each host country or region.
• Mercantilism supports using tariffs and subsidies in international trade.
• Micro risk threatens companies within a particular industry.
• A political system with economic freedom but without political freedom or minorities rights is a right-wing totalitarian regime.
• Most Asian cultures are more relationship-oriented than Western cultures.
• Religion and Political ideology are among the main factors influencing cultural differences between countries.
• Polycentric management involves adapting the workplace to the local culture while ensuring that elements of the company’s core competences are maintained.
• McDonald's should change only what is necessary to avoid conflict with Dubai cultural norms, to culturally adapt.
• Digital technology platforms facilitate democracy by giving voice to individuals, but authoritarian regimes can use them to suppress political freedom.
• Self-reference criteria avoid individuals from having an objective view of other cultures
• Comparative advantage uses opportunity costs, whereas absolute advantage is based on cost per unit.
• A stable macroeconomic environment is not a true characteristic about economies in transition.
• The use of central planning mechanism for distributing goods and services is not true about Market Economic systems
• Ricardo's theory of Comparative Advantage does not support government intervention in international trade.
• Paul Krugman’s New Trade theories best explains the USA global dominance in the digital technology sector
• Free trade economics theory is against subsidies because they protect inefficient suppliers and they cause oversupply in international markets.
• Religious reasons is not one of the main reasons for government intervention in international trade
• International Barriers is not one of the major elements of analyzing industry structure of a country State ownership encourages foreign direct investments
• Culture is not one of the main drivers of political risk

This lesson covers globalization's impacts, cultural dimensions (Hofstede), economic systems, and cultural drivers. It also touches on political risks like corruption and the role of culture in competitive advantage. Additionally, it contrasts command economies with mixed/market economies.