This seems to be a 'chicken and egg' which error comes first? issue.
7.4.2 upgraded a dozen times from ~v3. Several parallel installations DO NOT have this issue - so I'm puzzled on this one alone.
1) Go to Host > List Admin and get NO list items to change. The [Add List] button is visible, but clicking it produces an error. However the list items - countries - are visible in the list database table assigned to portal -1.
2) Go to Admin > User Account > Edit... popup fails to load with error "cannot be NULL"
3) NBright Store 'country' selection lists for config and order entry are empty.
4) App_GlobalResources folder does NOT have a country list or whatever the file is for the new list model.
5) User profile Region and Country fields Required is NOT checked (not required)
6) Google searches fail to give clues.