This document discusses the major risks associated with conducting business in a foreign country. It identifies four main sources of country risk: 1) economic growth cycles, 2) political risks, 3) legal risks, and 4) economic risks. Political risks depend on factors like government stability, internal conflicts, and external conflicts. Understanding a country's economic cycles, political landscape, legal system, and economic stability is essential for companies and investors to make informed decisions about expanding operations or investments internationally.