Mountain areas are faced with a range of new problems in the context of rapid globalization and economic liberalization. There are visible incompatibilities between the driving forces and operational mechanisms of market-driven globalization and the imperatives of mountain conditions. Thus, selective overextraction of resources in response to market signals and narrow specialization that disregard local diversity are incompatible with the fragility, inaccessibility, diversity, and marginality of mountain regions. The negative impacts of globalization and new trade policies on local production systems are already visible in many parts of the Hindu Kush–Himalayan region, and niche markets with comparative advantages for mountain regions are disappearing. There is a need to adapt to the changes brought by globalization. A few key areas in which new approaches could minimize the negative impacts and harness the positive opportunities associated with globalization are outlined below for the attention of policymakers.