Introduction
Bordered on the North by Tibet or the Tibetan Autonomous Region of China, and with India to its East, West and South Nepal is a small landlocked country roughly the size of Florida in the United States (Geography, N.D.). The latitude and longitude for Nepal is 28° 00’ N and 84° 00’ E (Nepal Latitude and Longitude Map, 2017). Much of Nepal’s topography is extremely diverse and consists of low lands to the South along the borders of India and eight of the highest points on earth, including Mt. Everest, the highest mountain at 29,035 ft along the Northern border of Tibet.
Having stayed relevantly obscured to the world, Nepal was closed to the outside world from 1846 until the 1950’s and a long decade of revolt, Nepal is one of the world’s poorest countries (Nepal Country Profile, 2016). The UN has ranked Nepal in their least developed countries (U.N., 2014). They are also ranked as having a low-income economy of $1,025 or less by The World Bank for the current 2017 year (World Bank Country and Lending Groups, 2017).
Nepal has an agriculture-dominated economy that relies heavily on both tourism and foreign aid. The country lacks entrepreneurial dynamism needed for growth and their statist approach has their development stuck below its potential and little efforts by its government to modernize the trade and investment regimes with notable successes as none (Economic Freedom, 2016).