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What are the positive effects of globalization in Nepal?

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The following are some of the positive effects of globalization on Nepal:

  • Modernization of the economy by revolutionizing it into an open service-based one as opposed to an entirely agricultural based economy.
  • Expansion of the export market for Nepal’s products through increased trade with other countries across the world.
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The following are some of the positive effects of globalization on Nepal:

  • Modernization of the economy by revolutionizing it into an open service-based one as opposed to an entirely agricultural based economy.
  • Expansion of the export market for Nepal’s products through increased trade with other countries across the world.
  • Enabled Foreign Direct Investment (FDI) by multinational corporations, which have not only led to the transfer of technology to Nepal but also improved the country’s Balance of Payments (BOP).
  • Increased employment opportunities for Nepalese workers through exposure to the international labor market.
  • Due to global competition, the population in Nepal has increased access to a wide variety of high-quality and affordable products.
  • Social-cultural transformation as a result of activities such as tourism, migration, and exchange of knowledge.
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