Global Bus Exam Chapter 1,2,4

DMG-Shanghai

"Gaunxi" means relationships or connections in business. Values social hierarchy and reciprocal obligations in Confucian ideology. Teaches that people are not equal. Mintz was a New Yorker who moved to China, formed his guanxiwang (network) and founded DMG the fastest growing advertising co in China. Case in point was DMG's campaign for Volkswagen- helped the German co become popular in China. The ad used Chinese symbols that had been banned by the govt, so they had to obtain govt contracts and argue that the symbols were in fact art. DMG has also filmed inside Beijing's Forbidden City even though it is against law. Their thought is to not stop just because of regulations. Today, it is a production & distribution company that creates successful movies leveraging their gaunxi in the country.

WTO?

- polices world trading system and ensures nations adhere to the rules established in WTO treaties

2. Why has Hisense established multiple R&D centers?

-electronics, technology and craft work design as well as function testing rooms -innovative developments -experimenting with and testing all kinds of products - low cost structure - product innovation

How has the Foreign Direct Investment Picture changed?

1) In the 1960s, US firms accounted for about 2/3 of worldwide FDI flows -Today the US accounts for less than 1/5 of the worldwide FDI flows -Other developed countries have followed a similar pattern 2) In contrast, the share of FDI accounted for by developing countries has risen -Developing counties, especially China, have also become popular destinations for FDI

How has the World Output and World Trade Picture Changed?

1) in 1960, the US accounted for almost 40% of world economic activity, but by 2012, the US accounted for just 23% -a similar trend occurred in other developed countries 2)In contrast, the share of world output accounted for by developing nations is rising -expected to account for more than 60% of world economic activity by 2020

How did the role of technological change speed up globalization?

1. The microprocessor - lowered the cost of global communication and the cost of coordinating and controlling a global organization 2. IT: Internet, e-mail, Skype, wireless, image recognition, automatic translation to name a few 3. Commercial jet aircraft, super freighters and containerization 4. Simplifies mode to mode trans-shipment

Country Focus: Protesting Globalization in France. What was this about?

100% tariff of EU banned beef products. -oppositions to american investments -record high french investments

Boeing outsources nearly 30% of the production of its aircraft to foreign suppliers. What could be the rationale behind such a move?

A global web of suppliers yields a better final product, which enhances the chances of Boeing winning a greater share of total orders for aircraft.

QUESTION 1: What are the benefits to a law firm of outsourcing legal services to a foreign country? What are the potential costs and risks?

A key benefit of outsourcing legal services is decreased costs and increased efficiency. Potential costs and risks include a language or cultural barrier.

Mixed Economy

A mixed economy includes some elements of a market economy and some elements of a command economy. Governments tend to take over troubled firms that are considered to be vital to national interests. The number of mixed economies in the world today is falling

Values

Abstract idea about what society believes to be good, right, and desirable Form bedrock of a culture Provide a context within which a society's norms are established and justified Reflected in the political and economic systems

How has the Nature of the Multinational Enterprise changed?

Any business that has productive activities in 2 or more countries 2) Since the 1960s -the number of non US multinationals has risen -the number of mini-multinationals has risen

Social democracy has had its greatest influence in the following group of countries:

Australia, Britain, France, Germany, Norway, Spain, and Sweden

QUESTION 2: Why do you think Apple continues to keep activities like product design, software engineering, and marketing in the United States?

Because things will get stolen in China like trade secret, etc. For quality, etc.

QUESTION 1: How has Apple capitalized on the globalization of production? What advantages does manufacturing in China offer the company?

By producing and selling both to China it becomes more efficient

According to the book, the communist countries remaining in the world today are:

China, Laos, Vietnam, Cuba and North Korea

In a business setting, the Chinese concept of "guanxi" can be taken to mean _____.

Connections

b) Who benefits from the globalization of the flat panel industry? Who are the losers?

Consumers are benefitting as producers are continually cutting costs. Unfortunately, jobs in this industry are precarious since production changes and outsourcing are common.

What is meant by corruption? Explain how a corrupt political system affects the well being of a country. What are the implications of corruption for Nigeria?

Corruption in Nigeria involves open and systematic plundering of theations state treasury. Bribery is normal. When a country experiences corruption this bad, the returns on business investments are lower, there is less incentive for inward foreign direct investment. This negatively affects economic growth.

How does Globalization, affect Jobs, and Incomes

Creates more jobs and increases wages in low income countries Critics claim jobs in advanced economies are being lost to low-wage nations. Supporters claim while some jobs may be lost, the economy as a whole is better off. Free trade will result in countries: 1. Specializing in the production of those goods and services that they can produce most efficiently 2. Importing goods and services that they cannot produce as efficiently. In doing so, all countries will gain

How does Globalization, affect Labor Policies, and the Environment

Critics argue free trade encourages firms from advanced nations to move manufacturing facilities offshore to less developed countries with lax environmental and labor regulations. Supporters claim tougher environmental regulation and stricter labor standards reflect economic progress 1. As countries get richer as a result of globalization, they raise their environmental and labor standards 2. Free trade does not lead to more pollution and labor exploitation, it leads to less

How does Globalization influence the World's Poor.

Critics argue the gap between rich and poor has gotten wider and the benefits of globalization have not been shared equally. Supporters suggest that the actions of governments have made limited economic improvement in many countries. Many of the world's poorest nations are under totalitarian regimes, suffer from endemic corruption, have few property rights, are involved in war, and are burdened by high debt

How does Globalization affect National Sovereignty?

Critics worry economic power is shifting away from national governments and toward supranational organizations such as the WTO, the European Union (EU), and the UN. Supporters argue that the power of these organizations is limited to what nation-states collectively agree to grant The organizations must be able to persuade members states to follow certain actions. Without the support of members, the organizations have no power

CULTURAL CHANGE

Culture evolves overtime. Economic factors and globalization are important factos in societal change (collectivism towards individualism). Change is slow and painful. As countries become richer they essentially move from survival mode to well-being. Some argue that transportation and technology advance this in regards to globalization

What are drivers of globalization?

Declining trade and investment barriers, technological change, advances in transportation, advances in IT, email, vonage, and container ships

Which of the following is the political system in which government is by the people, exercised either directly or through elected representatives?

Democracy

Product Safety

Different countries have different product safety laws (safety standards to which a product must adhere). In some cases, businesses must customize products to adhere to local standards if they are to do business in a country, whether these standards are higher or just different.

Culture and Competitive Advantage

Emphasis on the relationship between culture and national competitive advantage. Basically the value systems and norms of a country influence the costs of doing business in that country. The cost of doing business in a country influence the ability of firms to establish a competitive advantage in the global market

Clearly, Nigeria's corrupt government has been a major factor in the country's demise. In contrast, other countries including Finland and Canada expressly prohibit corruption. In your opinion, would Nigeria be better off following the example of countries like Finland and Canada? Why or why not?

Even if corruption is explicitly prohibited, it is unlikely to have a real effect on business. Many promises have been made to end corruption, but so far not a lot of progress is being made. There is a future, as corruption has been lowered

Chinese is the most widely spoken language in the world.

False

There is a strict one-to-one correspondence between a society and a nation-state because all nation- states are political creations that contain a single culture

False

_______________ are the routine conventions of everyday life.

Folkways

In the article about Amazon in India, what were the characteristics of the market that differed from the US market? How did Amazon adapt?

For now, Amazon's strategy is to persuade Indian stores to sell their products through the company, even if it currently costs Amazon more money than it makes on the transactions. That could be inevitable right now, since its U.S. revenue model—buying in huge bulk at wholesale prices, then selling retail online—is not an option in India, whose laws forbid foreign companies, Amazon included, from direct sales to Indians.

Totalitarianism (and the different types of totalitarianism)

Form of government in which one person or political party exercises absolute control over all spheres of human life, and opposing political parties are prohibited. Four Types of Totalitarianism: Communist, Theocratic, Tribal, and Right Wing.

Buddhism

Founded in nepal, pursues spiritual perfection. Siddhartha renounced his wealth and helped others achieve this. NO EMPHASIS ON WEALTH. Economies were more localized, with relations between people and with the natural world.

Supporters of globalization insist that dislocation in the form of lost jobs is a trade-off that will ultimately lead to the economy being better off. What are they justifying in this case?

Free trade

CULTURE AND THE WORKPLACE

Geert Hofstede did a famous study of how cultures relate to the workplace. He initially isolated 4 dimensions that he claimed summarized different cultures -power distance, uncertainty avoidance, masculinity v femininity, individualism v collectivism. He LATER added a 5th-long term/short term orientation- inspired by confucianism

Why were global institutions needed?

Global institutions manage, regulate, and police the global marketplace. They also promote the establishment of multinational treaties to govern the global business system.

Mores

Greater significance than folkways Violation can bring serious retribution Ex. theft, adultery, incest, and cannibalism

Social Stratification:

Hierarchical social categories often based on family background, occupation, and income

With its huge oil reserves and large population, Nigeria was expected to emerge as a major player in Africa. Yet today the country is extremely poor with little expectation for an economic turnaround any time in the near future. Explain how Nigeria came to be in such a sad state.

High levels of corruption have lower inward foreign direct investment, lower levels of international trade, and poor levels of economic growth. Political strife resulting from in-fighting between the various tribes and ethnic groups has led to instability and questionable legitimacy in the government.

Market Economy

In a pure market economy the goods and services that a country produces, and the quantity in which they are produced is determined by supply and demand Consumers, through their purchases, determine what is produced and in what quantity The role of government is to encourage free and fair competition between private producers

Country Focus: Breaking India's Caste System

India's technology sector is among the most vibrant in the world. Some companies like Cognizant were founded in US, but considered Indian co. because majority of employees live in india. India has strongest caste system in the world. (A caste system is a class structure that is determined by birth. Loosely, it means that if your parents are poor, you're going to be poor, too. Same goes for being rich.) India is enacting laws to prevent this and help the poor, but difficult to improve rural areas. Gives example of a poor young lady who was hired to cook at school, but was an engineer. The government is telling private companies to hire more "dalits" which are the poorest caste, threatening them if they don't.

How has the WTO helped globalization of markets and production?

It sought to create a more open global business system unencumbered by barriers to trade and investment between countries.

Know the foreign corrupt practices act what does it specify?

Limits corruption in the U.S. It specifies: 1.It is illegal to bribe a foreign government official in order to obtain or maintain business over which the foreign official has authority. 2. All publicly traded companies must keep detailed records so that it is clear whether a violation of the act has occurred. 3. Facilitating or expediting payments to secure the performance of routine government actions are permitted

What did declining investment and trade barriers do for globalization?

Lower Trade Barriers help companies see the world as a single market, establish production activities in optimal locations around the globe, and has led to an acceleration in the volume of world trade and investment since the early 1980s

The United Nations (UN)

Maintains international peace and security; develops friendly relations among nations; cooperates in solving international problems; promotes human rights; and is a center for harmonizing the actions of nations

QUESTION 5: Why were the services in this case outsourced to India, as opposed to another country such as China? What does this tell you about the kinds of factors that are important when a firm is considering whether to outsource a value creation activity, and where to outsource it to?

Most legal services are currently outsourced to India or the Philippines. India in particular is a preferred location because of its wealth of English speaking lawyers who are knowledgeable about the basics of U.S. law. China does not offer these benefits and therefore is a less optimal destination.

Christianity

Most widely practiced religion in world. Most live in europe/americas, numbers growing rapidly in africa. Grew out of judaism. 11th century, divided into roman catholic and orthodox. Economists say catholic, orthodox, and protestant has most important economic implications. Protestant ethics have connections to "the spirit of capitalism" business leaders and owners of capital, as well as the higher grades of skilled labor, and even more the higher technically and commercially trained personnel of modern enterprises, are overwhelmingly Protestant

Personal space, which is the comfortable amount of distance between you and someone you are talking with, is an aspect of

Non-verbal communication

Cross-Cultural Literacy

One of the biggest dangers is going abroad ill-informed. Be able to adapt and learn from other cultures in other countries

Suppose 3-M Corporation develops a new type of adhesive tape. 3-M can protect its invention through what kind of protection?

Patent

What are the 3 P's of Globalization? (refer your powerpoint)

Phenomenon, Philosophy, and Process

Nation-state

Political creations that can contain a single culture or several cultures Some cultures embrace several nations

Democracy

Political system in which government is by the people, exercised either directly or through elected representatives Most common form today is representative democracy- elected representatives vote on behalf of constituents

Which one of Hofstede's cultural dimensions focused on how a society deals with the fact that people are unequal in status, physical and intellectual capabilities?

Power Distance

c) What would happen if the U.S. government required that flat panel displays sold in the United States had to also be made in the United States? On balance, would this be a good thing or a bad thing?

Prices would most likely rise. While this could bring jobs to the US, the increase in price would mean that less consumers would buy them, slowing down growth, jeopardizing any jobs that were created.

Product Liability

Product liability involves holding a firm and its officers responsible when a product causes death, injury, or damage. Some executives believe that the high cost of liability insurance in U.S. hampers the competitiveness of U.S. companies in the global marketplace.

Property Rights and Corruption

Property Rights- the legal rights over the use to which a resource is put and over the use made of any income that may be derived from that resource

Anti-globalization Protests

Protesters fear that globalization is forever changing the world in a negative way Many experts believe that globalization is promoting greater prosperity in the global economy, more jobs, and lower prices for goods and services. Others feel that globalization is not beneficial

The Determinants of Culture

Religion , political philosophy, economic philosophy, social structure, language, education

QUESTION 2: What kind of legal services are most amenable to outsourcing?

Routine grunt work

CLOSING CASE: Culture and Business in Saudi Arabia

Saudi Arabia is a great market for trading over recent years, but holds conservative values when it comes to religion. Places close at the five daily prayer times, women and men have separate sections to sit in at places like McDonalds, women cannot drive, fly, sail, and even need permission slips to do business which is something other Western companies must keep in mind. The culture there puts an emphasis on loyalty, status, interpersonal relationships, and aversion to manual labor (which has actually caused a labor problem there). They require trust to be built before a business deal is made- creating lengthy conversations and business meetings. Job advancement is based on friends & family vs technical/managerial competence. As time progresses, they realize that the oil industry cannot sustain their needs and they must 1) allow manual labor to happen to progress the economy and 2) starting to allow women to work.

Islam

Second largest in world. Began when Muhammed left Mecca. Islamic fundamentalism: seen in the Western world as violence, but this is only a very small portion. It is a response to social pressures to move toward modernization, materialism, equal rights toward women, etc. modernization accompanied by a growing gap between rich urban minority and a poverish majority. Increase in symbolic gestures. The Koran establishes the principle of pro-free enterprise, approves of trade and commerce. Also protects private property. Frowns upon profit that is based on exploitation of others. Muslim countries likely to be receptive to international businesses

1. What makes Hisense different from other manufacturers of consumer electronics? What factors have contributed to its success?

Some of the products they make are sold to other manufacturers and carry a brand name not related to the brand. It does sell televisions under its own name. Factors that contributed to its success: Intranet, established labs for design and function testing rooms, and circuit CAD machinery rooms.

Individualism

Suggests individuals should have freedom over their economic and political pursuits Can be traced to Aristotle who argued that individual diversity and private ownership are desirable

Differences in Contract Law how are countries protected today? (CIGS)

The United Nations Convention in Contracts for the International Sales of Goods (CIGS) establishes a uniform set of rules governing certain aspects of the making and performance of everyday commercial contracts between sellers and buyers who have their places of business in different nations

OPENING CASE: Who makes the Apple iPhone?

The case explores the international expansion of Apple's production over the last thirty years. In 1983, Apple produced its products in the U.S., but by 2004, most production had shifted to foreign countries, and in particular China. Today, Apple's popular iPhone is assembled in China, but contains parts made around the world. Despite its reliance on foreign manufacturing however, Apple has maintained its R&D and marketing functions in the U.S.

2a. How do these R&D centers fit into the firm's global strategy?

The company has R&D centers all over the world. Being innovative is Hisense's main strategy, so having R&D centers all over the globe allows Hisense to be closer to its markets and should help the company serve its customers needs and preferences better.

Identify a macro factor that seems to underlie the trend toward greater globalization.

The decline in barriers to the trade.

Command Economy

The goods and services that a country produces, the quantity in which they are produced, and the price at which they are sold are all planned by the government. All businesses are state owned, and so have little incentive to control costs and be efficient Because there is no private ownership, there is little incentive to better serve consumer needs

Management focus Vizio: a) Why is the manufacturing of flat panel TVs migrating to different locations around the world?

The market for flat panel TVs is huge, yet competition is fierce forcing producers to cut costs. In response, companies have developed global supply chains where different parts of the TV are made, then shipped to the US for final assembly.

Education

The medium through which individuals learn many of the language, conceptual, and mathematical skills that are indispensable in a modern society. Supplements the family's role in socializing the young into the values and norms of society. Determinant of national competitive advantage.

QUESTION 4: On balance, do you think that this kind of outsourcing is a good thing, or a bad thing? Why

The outsourcing of legal services should result in a more efficient industry. Prices in the US should fall as outsourcing countries, like India, offer their services as an alternative to higher-priced American ones. Americans should therefore have more disposable income which can be spent in another part of the economy. Though, higher level tasks could eventually outsourced as well.

What are the implications of corruption for Nigeria?

The returns on business investments are lower, there is less incentive for inward foreign direct investment. This negatively affects economic growth.

Which of the following is true about how containerization has revolutionized the transportation business?

The whole process of moving goods can now be executed by a handful of longshoremen in a couple of days.

According to the UN Charter, which of the following is a purpose of the UN?

To be a center for harmonizing the actions of nations.

What is privatization, who started this in UK? Why was the fall of the Berlin wall so significant

Transfers the ownership of state property into the hands of private investors. Private investors are motivated by potential profits to increase productivity, so privatization should increase economic efficiency.

The Globalization of Production

Trend by individual firms to disperse parts of their productive processes to different locations around the globe to take advantage of differences in cost and quality of factors of production.

According to Buddhism, suffering arises from people's desires for material pleasures.

True

According to Trompenaaars dimensions of culture: In Neutral cultures such as Sweden and Japan, people make a great effort to control their emotions. Reason influences their actions far more than their feelings

True

Generally, folkways are actions of little moral significance.

True

Under the Foreign Corrupt Practices Act, facilitating payments are allowed.

True

Country Focus: Islamic Capitalism in Turkey

Turkey has been trying to enter the free trade block of the EU, and if they say yes then Turkey will be first muslim state in the union. Many worry this is a bad idea, however, Turkey has an entrepreneurial focus that may help it thrive in this. The Prophet Muhammed preached merchant honor and 90% of a Muslim's life should be work. "Islamic Calvinism"- fusion of traditional Islamic values and Protestantism and Calvinism. Some believe Islam is the driving force behind the region's success, some say globalization is the base of it. The "weakness" seen in the country is gender roles & views on women in the workplace.

QUESTION 3: Which groups gain from the outsourcing of legal services? Which groups lose?

US law firms will benefit from outsourcing, the client who will have a lower bill, and lawyers in India. Junior lawyers, who typically do the routine work, have the most to lose.

To which of Trompenaar's dimensions of culture does the following definition apply: "People place a high importance on laws, rules, values, and obligations. They try to deal fairly with people based on these rules, but rules come before relationships"

Universalism

d) What does the example of Vizio tell you about the future of production in an increasingly integrated global economy? What does it tell you about the strategies that enterprises must adopt in order to thrive in highly competitive global markets?

Vizio's strategy explains that there is no longer a single best place for production. Instead, production should take place wherever it makes the most sense. As Vizio demonstrates, flexibility, speed, and innovativeness are all important qualities to have in an intensely competitive global market.

Business contracts under the common law system are generally

Voluminous

Confucianism

Was the official ethical system of china until communist revolution. Teaches importance of attaining personal salvation through right action. NOT a religion, an ideology. The effects of confucianism were lowering the cost of business and creating economic success. Loyalty, reciprocal obligations, and honestly are the values they do business upon

Collectivism

When the needs of the society as whole are generally viewed as being more important than individual freedoms A. a system that stresses the primacy of collective goals over individual goals B. Can be traced to the Greek philosopher Plato C. Today, socialists support collectivism

Hinduism

Worlds oldest religion, India. Believes that a moral force in society requires acceptance of certain responsibilities called dharma. Believe in reincarnation, karma, and nirvana. According to max weber, hinduism does not encourage entrepreneurial activity in pursuit of wealth creation. People are judged by their spirit, not their status. Its argued that Ghandi & asceticism had negative impact on economic development.

There is not a strict one-to-one correspondence between a _____ and a _____

a society; nation-state

Culture

a system of values and norms that are shared among a group of people and that when taken together constitute a design for living

When firms do not wish to accept the rules of the Convention on Contracts for the International Sale of Goods, they usually rely on _________ to settle contract disputes.

arbitration

Civil law

based on a very detailed set of laws organized into codes. Found in over 80 countries, including Germany, France, Japan, and Russia. Contracts are shorter and much less specific

Theocratic law

based on religious teachings. Islamic law is the most widely practiced

Common law

based on tradition, precedent, and custom. Found in most of Great Britain's former colonies, including the United States. Contracts are very detailed with all contingencies spelled out

Ethnocentrism:

belief in the superiority of one's own ethnic group or culture Often shows disregard or contempt for the culture of other countries

The influential Peruvian economist Hernando de Soto has argued that much of the developing world will fail to reap the benefits of ___________ until _______ are better defined and protected.

capitalism, property rights

Judges in a(n) ______________ law system have the power to interpret the law.

common

High Power Distance

cultures let inequalities grow overtime into inequalities of power and wealth

Low Power Distance

cultures tried to downplay inequalities as much as possible

Two speed economies

economies whose industries experience unevenly distributed rates of growth.

Uncertainty Avoidance

extent to which different cultures socialize members to accept ambiguous situations and to tolerate uncertainty

Particularism

far greater attention is given to the obligations of relationships and unique circumstances.

Why is the concept of property rights protection so important to companies?

firms that depend on proprietary property, such as a brand name or technology for their competitive advantage, and also rely on property rights protection to ensure that competitors cannot benefit from their efforts. The finding against Xing Ba Ke is a symbol that property rights protection should be taken seriously, and that blatant violations of property rights will not be tolerated.

Masculinity v Femininity

focused on the relationship between gender and work roles

Power Distance

focuses on how society deals with the fact that people are unequal in physical and intellectual space. Low power distance and high power distance

Individualism v Collectivism:

focuses on the relationship between the individual and his or her fellows

Norms are classified into _____ and _____.

folkways; mores

Society

group of people who share a common set of values and norms

Globalization results in a greater degree of _____ across markets than would be present otherwise.

homogeneity

Individualism:

individuals were loose, and individual achievement and freedom were highly valued

The most global markets currently are markets for:

industrial goods.

Until now, the world of nation states depended on the concept of sovereignty as the organizing principle. However, now with globalization, states are collectively creating an alternative edifice of international norms and regulations through:

international bodies such as the UN and the WTO

A good education system is a determinant of national competitive advantage and:

is an important factor guiding the location choices of international businesses.

IMF

maintains order in the international monetary system

Making a circle with the thumb and the forefinger is a friendly gesture in the United States, but it is a vulgar sexual invitation in Greece and Turkey. Similarly, while most Americans and Europeans use the thumbs-up gesture to indicate that "it's all right," in Greece the gesture is obscene. These instances reflect that:

many nonverbal cues are culturally bound.

In a __________ economy, certain sectors of the economy are left to private ownership and free market mechanisms, while in other sectors there is significant state ownership and government planning.

mixed

Unspoken Language:

nonverbal communication- most are culturally bound (ie. personal space, thumb and forefinger thingy

In Brazil and other social democracies firms like Embraer (a market leader for commercial jets with up to 120 seats) became successful as a result of the government's willingness to __________________ these firms

privatize

The World Bank

promotes economic development

The motive behind the high tariffs imposed by nations on imports of manufactured goods prior to World War II was to:

protect domestic industries from foreign competition.

As of 2008-09, the G20 works to:

provide a forum through which major nations attempted to launch a coordinated policy response to the global financial crisis.

Long-term orientation v short-term orientation:

refers to the extent to which a culture programs its citizens to accept delayed gratification of their material, social, and emotional needs; captures attitudes toward time, persistence, ordering by status, protection of face, respect for tradition, and reciprocation of gifts and favors

Globalization

refers to the shift towards a more integrated and interdependent world economy.

Folkways

routine conventions of everyday life Little moral significance Ex. dress codes, social manners, and neighborly behavior

Universalism

rule-based, approach is roughly

Feminine

sex roles were less sharply differentiated, little differentiation between men and women in the same job

Masculine

sex roles were sharply differentiated, and traditional cultural values such as achievement and the effective exercise of power

Automobile companies promote different car models in different countries depending on a range of factors such as demographics, local taste, local fuel costs, income levels, traffic congestion, and cultural values. This demonstrates that:

significant differences still exist among national markets.

In the modern world, _____________expresses itself through _______ and ___________________.

socialist ideology, communism,social democracy

G20?

studies, reviews, and promotes discussion ( among key industrial and emerging market countries) of policy issues pertaining to the promotion of international financial stability.

Norms

the social rules that govern people's actions toward one another. Folkways and mores

Collectivism:

ties between individuals were tight -people look after each other (close with extended family)

Many Muslim countries have legal systems that are a blend of Islamic law and a common or civil law system

true

Spoken Language:

verbal communication that shapes the way people perceive the world English is most widely used