Debates help drive research forward. This paper is unique in its review of four current debates in the global strategy arena: (1) cultural vs institutional distance; (2) global vs regional geographic diversification; (3) convergence vs divergence in corporate governance; and (4) domestic vs overseas corporate social responsibility. For each debate, the history is tracked and the emerging tension highlighted. By introducing both sides of four lively and timely debates, the paper provides an innovative way of reviewing the literature and helping to advance the field. It is argued that an underlying theme connecting these four diverse debates is the institution-based view of global strategy.