Globalization in Nepal and international business

Globalization in Nepal, its history and models of international business

1. Globalization and International business

2. Globalization Globalization refers to the ongoing process that deepens the interdependent relationships among people from different parts of a world that happens to be divided into nations brings the economic, political, social and cultural aspects of society to the global level it continues to demonstrate new traits on an almost-daily basis and is constantly exposed to new events Example: the terrorist attacks of September 11 th 2001 have left a profound impact on the international agenda of global negotiations and economic agreements. This has particularly highlighted the need for a global strategy for security.

3. International Business all commercial transactions- private and governmental between two or more countries • The goal of private business is to make profits • Government business may or may not be motivated by profit It includes not only foreign manufacturing but also service industries It is a mechanism to bring about the globalization

4. Driving Forces of Globalization Income Government to government relation Acceptance and adaptation of attributes from foreign cultures such as words from other languages Variance among globalization aspects Technological interchanges

5. Factors Contributing to Globalization 1. Increase in and application of technology 2. Liberalization of cross-border trade and resource movements 3. Development of services that support international business 4. Growth of consumer pressures 5. Increase in global competition 6. Changes in political situations and government policies 7. Expansion of cross-national cooperation

6. GLOBALIZATION and Nepal Trade has always linked different regions Exchanges between north Tibetan plateau and Southern Gangetic Valley over the passes crossing the Himalayan range have a conspicuous feature With no access to the sea and an assurance by its two neighbours to fulfill its trade and security needs, it failed to connect with global community Hence, globalization arrived slowly in Nepal Nepal: Globalization index (0-100), 1970 - 2019: The average value for Nepal during that period was 31.2 points with a minimum of 15.09 points in 1970 and a maximum of 48.98 points in 2017. The latest value from 2019 is 47.02 points. For comparison, the world average in 2019 based on 191 countries is 61.96 points.

7. 1960 The Sino-Nepalese Treaty of Peace and Friendship 1970 Zone of Peace . 1980s UNPKM 1990s Foreign employment to Central Asia, Gulf and African Countries Member Of WTO 2004

8. Debate: Globalization Concerning Erosion of national sovereignty Insecurity in job and income source Threats to socio-cultural values of a country unequal distribution of benefits Environmental and health degradation Supporting Enhances productivity, enlarges income Benefits of transfer of technology, capital & management Increases trade and specialization Increases employment opportunities Reduce poverty and upgrade living standards Promotes industrialization of new economies

9. Modes of International Business Merchandise Exports and Imports Service Exports and Imports Investments Direct Investment Portfolio Investment 4) International Organization

10. References https://soscbaha.org/lecture-series/globalisation-in-nepal-theory-and-practice/ https://books.google.com.np/books?id=1Ho6BAAAQBAJ&pg=PA39&lpg=PA39&dq=Globalisation+in+Nepal:+Theory+and+Practice+James+Fisher&source https://glocalismjournal.org/wp-content/uploads/2021/07/Gupta_gjcpi_2021_1.pdf "International Business" - 16th Edition (Pearson) by John Daniels, Lee Radebaugh, Daniel Sullivan and Prashant Salwan