Tag Archives: manufacturing

Micro, small and medium enterprises in Nepal: Boosting growth with credit reform

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By Shanker Man Singh Nepal is at a turning point, as the country’s economic growth depends on opening access to credit for millions of small enterprises. Today, most MSMEs-especially the smallest ones-still find it difficult to obtain credit because they lack adequate collateral, long credit histories, or direct connections with banks. Nepal’s economic ambitions depend on the strength and resilience of its small businesses. Micro, small and medium enterprises are the backbone of Nepal’s economy, accounting for a significant portion of the country’s GDP and providing employment to a large share of the population. Yet despite their scale and importance, MSMEs remain one of the most underfunded sectors in the economy. Access to capital remains their biggest obstacle. As Nepal aspires to double its GDP and build inclusive growth, ensuring accessible and affordable credit for MSMEs is no longer just a sectoral issue-it is a national economic imperative. Today, most MSMEs, especially the smaller ones, still find it difficult to access credit because they lack sufficient collateral, a long credit history, or direct ties to banking institutions. As the government aims to transform Nepal into a manufacturing and services hub, securing MSME credit should be a national priority. Fostering innovation in the sector requires enabling more risk-taking, smart partnerships, and greater flows of capital. Reducing the Cost of Capital Today, many fintech lenders and non-banking financial companies are willing to serve MSMEs, including those beyond the reach of traditional banking. But they borrow at much higher rates than banks, especially when providing unsecured loans. The cost gap can be as high as 4-5 percentage points. Clearly, there is a need to unlock new sources of funding-such as foreign and insurance capital-for fintech companies that prioritize lending to MSMEs. The government can support this by creating incentive mechanisms, similar to priority-sector funds in agriculture, to reduce the cost of capital for MSME lending. Public sector banks can also be encouraged to partner and co-lend with financial institutions. Agribusiness experts should increase research and development funding and promote value-chain development. Currently, MSME loans fall under priority-sector lending. However, new or under-rated enterprises are often not eligible for these benefits, as public sector banks require a minimum credit rating, except in highly innovative cases. Their participation will require an improved incentive structure. Making Credit Guarantees Work The main focus of existing government guarantee schemes, such as the Credit Guarantee Fund Trust for Micro and Small Enterprises, is to encourage lenders to target small businesses and support financial inclusion. However, their design needs urgent updating. Today, guarantees do not easily transfer with portfolios when sold, nor do they always include co-lending arrangements. This limits MSMEs’ ability to access financial credit. Pricing norms such as rate capping and coverage caps vary between institutions and federal-provincial arrangements, making it difficult for small lenders to compete. Small and medium enterprises contribute 40-60 percent of Nepal’s total economic output. Around 98 percent of Nepal’s commerce and industry, and 89 percent of employment, are accounted for by MSMEs or MSME-related businesses. Open Economic Policy and MSMEs Since 1990, Nepal has seen a gradual increase in the number, policies and promotion of MSMEs. Open economic policies adopted by developed, developing and underdeveloped countries have benefited Nepal as well. SMEs contribute significantly to economic potential and play an important role in poverty reduction by creating employment and income opportunities. Challenges Most SMEs cannot fully utilize market opportunities. They lack access to information about market development, pricing, exports and financial opportunities. Although ICT has improved access to knowledge, many SMEs, especially in rural areas, still cannot benefit from it. The information provided by service institutions often does not match SMEs’ needs. In many developing countries, including Nepal, the private sector is dominated by small businesses. While foreign investment is important, most investment still comes from domestic sources. Many micro and small enterprises operate informally, outside regulatory systems. These businesses are often unstable, with owners shifting between activities. Many are run by women, providing essential income to households. Informal enterprises make up more than half of economic activity in many developing nations. Informality brings short-term flexibility but prevents businesses from accessing resources, markets, and skilled labor, limiting long-term growth. Small Businesses: The Heart of Entrepreneurship Small enterprises and start-ups are often viewed as the heart of entrepreneurship in developing economies-they generate new jobs, drive productive investment and contribute to growth and poverty reduction. However, they face more serious constraints than large companies. They operate in environments with unnecessary costs, procedural hurdles, and limited access to finance and services. These constraints restrict innovation and productivity. In the early 1990s, Nepal’s economic reforms attracted private and joint ventures into the financial sector. As a result, the number of commercial banks, financial institutions and cooperatives increased, offering more financing opportunities. A few years ago, the Bank of Kathmandu and BID Investment created a venture fund to finance SMEs, shifting capital sources from debt to equity-a rare initiative in Nepal. Most entrepreneurs run informal micro or small enterprises. Their greatest constraint is the lack of access to markets. Export support mechanisms are inadequate, limiting opportunities for remote SMEs to reach international markets. Policies often favor big business, creating barriers for growing small enterprises. What Needs to Be Done Business membership organizations mainly operate in urban areas, but MSME development requires their presence in strategic rural locations. For economic growth and globalization, SMEs should strengthen cooperation between government and communities. The government must reduce bureaucratic hurdles, expand training workshops, promote local skills, encourage ICT adoption and integrate e-commerce. SME experts should be involved in policy planning. Tax reductions on IT-related imports should be considered. Joint financing, SME-friendly legal reforms and stronger information-dissemination laws are essential. Nepal must make effective use of open-economy tools. Rural MSMEs Agriculture provides only seasonal employment to Nepal’s rural population. Off-season activities-such as weaving, knitting, basketry and small shopkeeping-supplement rural income. Rural MSMEs provide goods and services using traditional technologies. Major SME categories include food processing, textiles, handicrafts, animal husbandry, tailoring, carpets, pashmina, cash crops, and ceramics. However, transportation challenges hinder product distribution. Exporting SME goods is even more difficult due to Nepal’s geography. Despite contributing to exports and GDP, the sector remains neglected. MSMEs contribute about 22% of GDP and employ around 1. 7 million people. COVID-19 created new challenges, making banks hesitant to lend due to weak financial performance across the sector. Micro, Cottage and Small Industries Promotion Policy (2080) The Government of Nepal has introduced the Micro, Cottage and Small Industries Promotion Policy (2080) for discussion. It aims to foster direct collaboration with the private sector in establishing and developing small industries.
https://mypeoplesreview.com/2025/11/26/micro-small-and-medium-enterprises-in-nepal-boosting-growth-with-credit-reform/

‘Real dreams’: Tonko visits local businesses ahead of Small Business Saturday to discuss tariffs

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SARATOGA SPRINGS, N. Y. While many people are thinking about Thanksgiving right around the corner, small businesses are getting ready for some of the busiest shopping days of the year. Ahead of Small Business Saturday, which last year saw an estimated 29. 4% increase in consumer spending jumping from $17 billion in 2023 to $22 billion in 2024 according to the United States Census Bureau, U. S. Rep. Paul Tonko (NY-20) paid a visit to a Spa City small business to hear a bit about how they are doing going into the holiday season, especially while facing the impact of high tariffs. “Every day is a small business shopping day, but to do it formally on that one day enables us to focus on the benefit they (small businesses) bring to the community,” Tonko said regarding Small Business Saturday. “Small businesses are based on a dream and a leap forward in good faith. As a community, we are challenged to meet that leap forward. They are the engine of our economy, and a small business citizen is a very strong value addition for the community it’s an employer, they grow jobs in the area, and it enables us to see the creative genius amongst us with locals who start these fascinating journeys. “I think it’s good to have this Small Business Saturday recognition so that we stop our busy pace during the holidays to understand these are real people who are promoting real dreams they’ve had in our community. They deserve our support and respect. They’ve gone through some unnatural consequences of late with tariff applications, with restrictions on employees, with DEI restraints, and the economic climate out there has made it tougher for people to be able to participate as readily as customers.” Tonko spent Monday morning with Allison Rose, Co-Owner, Saratoga Chocolate Co., and her staff, hearing about this local small business, which was named the #3 Best Chocolate Shop in America by the 2024 USA Today Readers’ Choice Award, and how they are handling the challenges that are facing the chocolate industry. On Tuesday, Tonko will visit DeFazio’s at 216, the newest location of Troy’s famous DeFazio’s Pizzeria, which has been a local staple since 1951, to discuss how price increases have impacted its ability to serve Capital Region residents as well. Saratoga Chocolate Co. started in 2016, with their first location opening in late 2020, delayed by the COVID-19 pandemic, and moved into their new space this May. Rose notes that the new space is about five times bigger than their previous location, which has taken some getting used to, but has allowed them to shift the location of where they do order fulfillment and has increased their staff “enormously.” “We’re proud to be a member of the community, we’re proud to hire locally and we’re proud to have a small manufacturing operation in New York,” Rose said. “We’ve had a pretty good run since 2016 when we launched and opened our first retail store across the hallway it was supposed to be March of 2020, but we all know what happened then, so we got open at the end of 2020 and we had some good, steady years, and then the last two years were pretty bumpy again.” Rose noted that the chocolate market has seen “an unprecedented collapse” in the last two years as a result of of climate impacts and crop disease, explaining further that a black pod rot that contributed to large crop loss over a period of a couple of years in Africa (where 80% of the world’s cocoa production comes from) which has contributed to large crop loss over a period of a couple of years that then put such a pinch on supply that prices. She added that policies from the current administration, namely tariffs on imported goods, have impacted the chocolate industry, especially since this is one of the products that can’t be produced domestically but has a high demand for it, so there’s no flexibility and no equal quality substitute. “The problem is that you’re stuck, so you have nothing left to do but to pass costs through,” Rose explained. “There aren’t many cheap alternatives, even within the chocolate industry. And I, for 1, am not willing to compromise on quality. I think we’ve built a premium chocolate brand intentionally, and I’m not about to back away.” While discussing this, Tonko points out that he thinks tariffs should be strategically implemented, not on items that can’t be readily produced in the US. “I think it’s why we’ve always had Congress that was supposed to be in charge of setting the tariffs,” Tonko noted. “A broader audience talking about how ‘this is an item we can’t compete with,’ and it’s not like we’re putting a tariff on other producers that would put us at a disadvantage. It makes no sense strategically to tariff an item that we’re not producing; it’s just a senseless type of approach.” Rose also pointed out that all this contributes to feeling increased price pressure, especially when all these impacts have seen the cost go up by 68% before tariff increases, which now add an extra layer on top of that, with anywhere from a 15 to 20% increase. This is also coupled with the impact on packaging and equipment cost. Rose gave the example that all of the cellophane bags and boxes the store utilizes are primarily imported from China and things like her cocoa jars went up 32% since the last time she purchased them. Also, she says she has seen a 30% increase in tariffs on her packaging. In terms of equipment, a recent purchase of equipment from Italy, since there are not that many chocolate processing pieces of equipment manufactured within the United States, jumped from $24,000 to $29,900 strictly from tariffs alone. “It’s hitting us on all of our cocoa products and ingredients. It’s hitting us on equipment. It’s hitting us on packaging,” Rose said. “When we communicate with the customer, it’s not about increasing prices for a profit grab, it’s increasing prices to remain profitable and pay our bills. We don’t have the types of cash reserves that large companies do to be able to hurry up and buy ahead when you see the market signals coming.” These rising costs have impacted other areas of the business as well, including staffing and pay. Rose shared she has “an intense desire” to raise wages and offer benefits to her staff, but with the margins being hit as they have been over the past couple of years, it has been difficult for her to move forward in a way that will foster goodwill and employee retention. “When you’re just trying to stem the bleeding, it limits your ability to recognize the people who work really hard for you and believe in what you’re trying to accomplish. You understand that they have to do what they have to do as well, because they have a family to feed and have their own bills to pay. Rose adds that she has heard first-hand that tariffs have caused other chocolatiers to close, giving the example that within one day, a local chocolate store in Colton told her that they were closing due to price increases, specifically tariff-related, and a 100-year-old family chocolate business in the Catskills went on the market for sale. “Somebody needs to look at the chocolate industry. This is a space that we have no room, no flexibility, within and industry carveouts and smart policies that don’t disadvantage local small manufacturers and local small businesses employers are essential. It’s so important that we understand that a one-size-fits-all approach doesn’t always work. The devil is always in the details, and while headlines are great, there’s reality. We need to talk about the reality of how these things are hitting.” Tonko added that it’s clear that these tariffs have really caused a lot of heartache for businesses, and this is part of why visits like this are important because they allow him to take back messages from local businesses like this and share the impact these tariffs are having on real people. “It’s not like we’re bringing in money because of tariffs, we’re digging into the consumer’s pocket and we’re digging into the small business person’s plan to get those dollars,” Tonko said. “ It’s our own people, business community, consumer community, paying the price, and that’s unfair. (Tariffs) need to be done strategically. “If you’re putting tariffs on chocolate that we can’t produce here, it’s a foolish application. It’s non-strategic.” And on top of all this, Tonko adds that the Small Business Administration, who try to network and make certain small businesses get assistance, has seen a 43% reduction in staff as well as several closings of district offices and while our district office might not be closed, he says closures do put pressure on the entire system to respond to the small businesses out there. “It’s curtailing a lot of the assistance that we should be providing. But some of the best we can do is to stop the foolishness. You know, many have said, myself included in Congress, that it should be a congressional application, not left to one person, one whim, where it’s done in a way that has not been strategic. And so we need to be very cognizant of things that we do that are going to impact that small business budget.” Rose adds that if the goal is to strengthen the American economy and support American business, the whole economy must be looked at and taken into consideration. “It’s important to recognize that being a small business owner is a daily recommitment to working towards a vision that you have and choosing to wake up and fight the fires, because they’re always going to come,” Rose said. “There’s always going to be something you have to deal with that day, but I know for certain that when I got into this business, I didn’t see a global pandemic, and I didn’t see an unprecedented crop failure, and I certainly didn’t see massive increases in prices from tariffs. “That’s a lot for any business to handle, and I’ve been doing it with a white knuckle grip and a lot of grit, and while I’m really tired, I love what I do, and I believe in what I do, and I just want to see smart policies that truly benefit small businesses. “I have a responsibility to my employees, I have a responsibility to my customers, I have a passion and a belief in what we’re doing, and I believe in my community. I want to see those things all benefit, and I want to see this business flourish . We just need some help and I know I’m not the only Chocolatier that feels that way.”.
https://www.troyrecord.com/2025/11/24/real-dreams-tonko-visits-local-businesses-ahead-of-small-business-saturday-to-discuss-tariffs/

Taiwan set to avoid ‘punishing’ 300% tariffs on semiconductor exports, says report — new trade deal could spur $400 billion investment commitment from island nation

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Taiwan National Science and Technology Council Minister Wu Cheng-wen said that the U. S. is not pushing through with its threat of a 300% tariff on chips, at least for those coming from the island. According to the Financial Times, Taiwan is currently finalizing a trade deal with the U. S. while awaiting the results of the U. S. Department of Commerce’s Section 232 investigation. At the moment, U. S. President Donald Trump has applied a 20% tariff on Taiwanese goods, except for semiconductor imports. “They understand that punishing Taiwan is not in their interests,” Wu told the Financial Times. He also said that the island will help the United States with the development of its semiconductor industry, especially with building science parks. “Of course, there’s the recipes of how to make the chips, but it’s also about the science park management, attracting companies, integrating academic research with industry,” he adds. “No other country has done what we have done.” Taiwan currently has three science parks and ten technology industrial parks that make it easier for companies to focus on innovation instead of red tape. These parks serve as nodes for the island’s high-tech industries, facilitating collaboration for firms within these zones. Aside from that, they also have a fixed lease rate, so companies do not have to worry about skyrocketing rental prices just to stay inside these zones. This model has enabled Taiwan to produce some of the most advanced tech institutions in the world, with Taiwan Semiconductor Manufacturing Company (TSMC), the crowning jewel of the island’s silicon shield and headquartered in Hsinchu Science Park, being one excellent example. Aside from helping the U. S. revive its chipmaking industry, an unnamed U. S. government official suggested that the new trade agreement would also result in a US$400 billion investment commitment from Taiwan. This will be much easier for the island, as TSMC is already investing $165 billion in Arizona to build new fabs and even an R&D center. Other Taiwanese companies, like GlobalWafers, are also spending billions of dollars to expand their presence within the United States. This move might seem like an erosion of the island’s leadership in semiconductor manufacturing, but it’s also taking steps to develop a second “silicon shield.” Taiwan has allocated US$3 billion to turn it into an “AI island” while the government is also focusing on building up other industries, like drones, robotics, and medical technology. More importantly, it has restricted the export of TSMC’s most advanced process technologies to help keep it secure at least in the near future.
https://www.tomshardware.com/tech-industry/taiwan-set-to-avoid-punishing-300-percent-tariffs-on-semiconductor-exports-says-report-new-trade-deal-could-spur-usd400-billion-investment-commitment-from-island-nation

Jensen Huang says that ‘without TSMC, there is no NVIDIA’

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It’s safe to say that much of the world’s semiconductors run on designs built by Taiwan Semiconductor Manufacturing Company (TSMC). At the last estimate, the company accounted for about 64 percent of the world’s contract chip manufacturing. These designs are also powering many of the AI technology breakthroughs being developed by NVIDIA.

With that in mind, it might come as little surprise that Jensen Huang, NVIDIA’s CEO, had nothing but praise for TSMC during its recent Sports Day event. In fact, Huang went as far as to say that NVIDIA wouldn’t exist without TSMC.

Huang made these comments during TSMC’s Sports Day, as reported by the online news outlet Focus Taiwan. The event took place last weekend at a stadium in Taiwan, where Huang highlighted TSMC’s crucial role in NVIDIA’s history and its broader impact on technology.

He stated, “Without TSMC, there is no Nvidia today. You are really the pride of Taiwan, you are also the pride of the world. Thank you for helping me build Nvidia.”

NVIDIA and TSMC have been collaborating for nearly 30 years. NVIDIA has consistently utilized the technological breakthroughs developed by TSMC in its products, including the company’s cutting-edge Blackwell AI chips.

With such a long history and shared success, Huang clearly has a strong interest in maintaining friendly relations with TSMC. This is especially important as TSMC and the Taiwan region navigate complex trade and export tensions with the United States government.

In summary, the partnership between NVIDIA and TSMC remains a cornerstone of technological innovation, driving advancements in AI and semiconductor manufacturing worldwide.
https://www.shacknews.com/article/146757/jensen-huang-tsmc-pride-of-the-world

Is the Bitcoin price heading for its worst Q4 since 2022?

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**Can Bitcoin Price Recover Its Momentum After October’s Reversal, or Will Q4 Extend Its Weakest Run Since 2022?**

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### Bitcoin Price Breaks the Uptober Streak

Bitcoin entered October with confidence, extending a powerful rally that lifted prices to a record high above $126,000 on October 6. However, what followed was a sharp and sudden pullback. Within days, prices dropped more than 17%, reaching about $104,500 between October 10 and 11. The month closed with Bitcoin (BTC) down roughly 3.6%, marking its first negative October since 2018.

As of November 3, Bitcoin trades near $108,000, around 14.5% below its monthly peak.

The decline stemmed from several interconnected global developments:

– The U.S.-China trade confrontation intensified after Washington imposed 100% tariffs and introduced new restrictions on software exports. This move sparked heavy liquidations across crypto markets and dampened investor risk appetite.
– At the same time, the Federal Reserve signaled that it may slow the pace of interest rate cuts. This stance strengthened the dollar and increased the appeal of yield-bearing assets, putting additional pressure on Bitcoin, which produces neither interest nor dividends.

Another key factor is Bitcoin’s deeper integration with traditional finance. In past cycles, Bitcoin often moved independently of global markets. Today, institutional trading, ETF flows, and broader macro sentiment shape its direction far more than retail activity alone.

As a result, 2025 broke the “Uptober” streak. Bitcoin is down nearly 6% in Q4 so far, turning what is usually a positive month for crypto into its weakest start since 2022.

The question now is: what lies ahead as the market moves deeper into November and the rest of Q4?

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### Trade Truce Meets Tight Liquidity

Early November brought what appeared to be relief for global markets.

During a summit in South Korea, U.S. President Joe Biden and Chinese President Xi Jinping reached a broad trade-truce framework that marks a partial de-escalation of the trade war that had intensified earlier this year.

Key points of the agreement include:

– China will begin lifting its export ban on automotive computer chips, including components critical to car production worldwide, addressing a major bottleneck that had disrupted global manufacturing chains.
– The two sides agreed on U.S. soybean exports, with China committing to purchase 12 million metric tons this season and 25 million tons annually for the next three years.
– Cooperation will also involve the supply of rare earth minerals and precursor materials used in the production of the drug fentanyl.
– The U.S. reduced tariffs on Chinese goods from 57% to 47%, while China agreed to delay export restrictions on rare earths, gallium, and germanium for one year.

Despite the political optics of progress, China’s manufacturing sector continues to struggle. The country’s October manufacturing PMI stood at 49, extending its contraction streak to seven months and pointing to lingering weaknesses in global demand and production.

In the U.S., the Federal Reserve moved slightly toward monetary easing, cutting its benchmark rate by 25 basis points to a 3.75-4.00% range at its October 28-29 meeting. This decision came as unemployment inched up from 4.0% to 4.3%, while inflation remained around 3% year on year.

Fed Chair Jerome Powell reiterated that future policy remains data dependent, and markets now expect a 70% chance of a further rate cut in December.

A parallel move came from the U.S. central bank’s liquidity operations. On October 31, the Federal Reserve injected $29.4 billion through overnight repo operations — its largest since 2020.

For Bitcoin and the broader crypto markets, greater liquidity, reduced tariffs, and easing trade tensions theoretically create a supportive backdrop. However, real recovery depends on whether supply chains and credit conditions stabilize enough to renew investor confidence.

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### The Verdict That Could Shake Bitcoin

The next major test for global markets, and indirectly for Bitcoin, is set to unfold at the U.S. Supreme Court.

On November 5, the Trump administration will face challenges from small businesses and several U.S. states over the legality of tariffs imposed earlier this year under the 1977 International Emergency Economic Powers Act.

The plaintiffs argue that the president exceeded his constitutional authority since the law allows regulation of trade during emergencies but does not explicitly authorize tariffs.

The court’s decision is expected sometime between March and June 2026.

The case involves roughly $90 billion in import taxes already collected through September 2025, according to Wells Fargo estimates. However, administration officials warn that this figure could swell to as much as $1 trillion if the court takes until June 2026 to decide and tariffs remain in place throughout that period.

**Potential outcomes:**

– Should the court rule against the administration, those tariffs could be invalidated and refunds ordered, potentially disrupting fiscal balances and triggering volatility in the dollar and equities.
– If the decision favors the White House, it would cement the executive branch’s ability to impose or adjust tariffs unilaterally, giving the U.S. president far greater flexibility in trade negotiations.

For Bitcoin and the broader crypto market, this legal showdown presents a complex scenario.

Once celebrated for moving independently of traditional markets, Bitcoin now behaves much more like a macro-linked instrument. Over the past several years, Bitcoin’s correlation with the S&P 500 and the Nasdaq Composite has risen sharply, especially during periods of policy-driven volatility.

– If the Supreme Court outcome disrupts confidence in U.S. trade policy or weakens the dollar, risk assets could see renewed speculative inflows, temporarily supporting crypto prices.
– Conversely, a ruling that strengthens executive control and stabilizes the dollar could pressure Bitcoin, as investors move back toward traditional safe assets.

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### Analyst Outlook and Bitcoin’s Next Move

Market sentiment remains divided on where Bitcoin heads next.

Analyst Ted Pillows noted that Bitcoin has now tested its $107,500 support level for the third or fourth time in just two weeks — a pattern often seen before a decisive breakout or breakdown. He warned that failure to hold this range could open the door for a retest of $100,000, which has served as Bitcoin’s psychological and technical base for much of 2025.

The repeated tests suggest buying strength around $107,000 is weakening, while short-term volatility could rise sharply if that level gives way.

On a more macro level, analyst PlanB, known for the stock-to-flow model, highlighted that Bitcoin closed October at $109,000, marking six straight months above $100,000. He views this range as solidifying long-term support rather than forming a short-term ceiling.

According to his model:

– Bitcoin’s realized price currently sits near $56,000.
– The 55-day moving average is roughly $55,000.

PlanB believes these levels form a structural floor reminiscent of early bull markets in 2013, 2017, and 2021. He also noted that Bitcoin’s Relative Strength Index (RSI) stands at 66, signaling a strong uptrend but not yet in the overheated zone that has historically preceded market tops.

Based on his stock-to-flow projections, Bitcoin’s fair value range lies between $250,000 and $1 million, though he acknowledged wide uncertainty around timing and peaks.

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### Conclusion

The bullish camp believes the absence of FOMO (Fear of Missing Out) and the steady divergence between realized price and moving average point toward another expansion phase. Meanwhile, the bearish view argues Bitcoin may have already peaked at $126,000 following the halving cycle.

Overall, Bitcoin’s near-term direction depends heavily on whether the $107,000 to $108,000 zone holds. A breakdown below could trigger a sharper correction, while stability above that level could set up the next leg higher.

For now, markets remain heated. Proceed with caution and never invest more than you can afford to lose.
https://bitcoinethereumnews.com/bitcoin/is-the-bitcoin-price-heading-for-its-worst-q4-since-2022/?utm_source=rss&utm_medium=rss&utm_campaign=is-the-bitcoin-price-heading-for-its-worst-q4-since-2022

When Government Competes, America Loses

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In recent years, it has become an unfortunate bipartisan article of faith that the government — and not individuals, nor the businesses or institutions of civil society into which those individuals voluntarily assemble themselves — ought to operate to accomplish any good dreamt up by politicians and the pundit class.

But this fatal conceit, which seeks to subvert the competitive processes of the market and subordinate the will of the free American citizen to the bureaucrat’s, fails not only theoretically but empirically, because state action cannot compete with human action.

To document this, the Taxpayers Protection Alliance has inaugurated a series of policy briefs, chronicling the manifest and myriad failures of central planning and government-run economic endeavors. But first, in the words of Abraham Lincoln, it ought to be understood “where we are, and whither we are tending.”

The movement of Sen. Bernie Sanders (I-Vt.) values ubiquitous and affordable medicine; so, its followers say, government ought to socialize the healthcare industry. Even so-called Abundance Democrats, in revolt against the stultifying excesses of the far left, betray a narrow view that associates economic development too closely with the deeds of the government, albeit a government freed of the worst strictures of such laws as the National Environmental Protection Act.

Republicans, too, have begun to echo the socialist senator from Vermont. Encapsulating this thinking, Treasury Secretary Scott Bessent put it thus: “We believe home ownership is good, so therefore the government wants to be involved.” Proficiency in this language — that of progressives and socialists — has been gained by purported conservatives, who seem to have forgotten their mother tongue.

Indeed, although hardly a radical in temperament, Bessent makes explicit the radical premise from which many Republicans and nearly every Democrat now reason: I approve of X; the government must ensure that X occurs, perhaps even by effecting X directly.

Journeying from its source in principle to its destination in a policy proposal, any idea is refracted, colored, sometimes distorted, as it passes through myriad ideological lenses and filters. And, accordingly, the central planner’s premise, shared by the left and right, takes shape differently in the hands of each, touched by differing philosophical convictions and directed toward different ends.

Joe Biden fretted about carbon emissions and sought to make the composition of energy production, the construction of infrastructure, and even the technologies found in the cars Americans drive and the appliances in American homes a question to be decided by politicians and bureaucrats in Washington, D.C.—efforts which concluded in failure.

President Trump desires more domestic manufacturing; ergo, protectionism. He desires more high-tech, cutting-edge domestic manufacturing; ergo, the federal government acquired a 10-percent stake in Intel, becoming the company’s largest shareholder. He has been persuaded that organized labor is his friend; ergo, he conjured up a “golden share” in U.S. Steel, in no small part to enable his administration to protect the firm’s unionized employees.

In state capitals and city halls, similar assumptions obtain, and similar plans are propounded. For example, in the effort to make access to broadband internet ubiquitous, government-owned networks—which almost invariably founder—have been constructed in cities nationwide. Penetrating the national news cycle, Zohran Mamdani (New York City’s mayor-presumptive) advocated city-run grocery stores, opening their doors in competition with the private sector. No matter that such proposals have, in practice, proved themselves quixotic.

The ideologies of central planning rarely succeed even by the metrics of the planners themselves. So long as people remain people—both in their shortcomings as technocrats and in their independence and interest as entrepreneurs and workers—socialism and its softer, nicer, more palatable progeny will remain a scheme practicable only in Utopia, the land that never was and cannot be.

If men had the psychology and habits of the white ant, perhaps, things would be different; but, as Winston Churchill noted, “human nature is more intractable than ant-nature.” To their chagrin, politicians are left to contend with the world as it is, and with people as they are.

Russell Kirk once wrote: “Ignore the fact, and that fact will be your master.” Trumpian protectionism, single-payer medicine, or Mamdani’s petty socialism—none will succeed. No matter how powerful the force of the will or of the passions that propel them to completion, these projects cannot and, therefore, will not overcome the laws of economics, founded in human nature.

Finding failure, the central planners will run to and fro, searching vainly for some new policy remedy with which to save the patient, ignorant of the fact that the disease was, in the first place, brought on by an unnatural and imprudent course of treatment.

In the words of a popular online meme: “Reject modernity; embrace tradition.” Indeed, both left and right ought to reject the modern innovation of economies directed and micromanaged by the state and return to America’s heritage: liberty, property rights inviolable, and free markets.

—

**Related Articles:**

– Why Free Speech Needs Congressional Action
– Republicans Should Reject European-Style Tech Policy
https://spectator.org/when-government-competes-america-loses/

Tesla Is Still Fighting For Elon Musk’s $56 Billion Payday

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Happy Thursday! It’s October 13, 2025, and welcome to *The Morning Shift*, your daily roundup of the top automotive headlines from around the world—all in one place. Here, you’ll find the most important stories shaping the way Americans drive and get around.

In this morning’s edition, we’re looking at Tesla’s ongoing efforts to pay Elon Musk a massive compensation package, Canada’s displeasure with Stellantis over plans to move Jeep production to the United States, threats to federal funding for General Motors and Stellantis, and yet another Ford recall.

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### Tesla’s $56 Billion Pay Package Battle Continues

Remember when Elon Musk’s $56 billion pay package was approved, then rescinded, then reinstated, and then rescinded again? Well, Tesla isn’t ready to give up just yet.

According to Reuters, a Tesla attorney argued before the Delaware Supreme Court on Wednesday that Musk’s pay package should have been restored by a shareholder vote last year. This legal battle is entering its final stage after a lower court judge invalidated the CEO’s record-breaking compensation in January 2024.

Tesla is also appealing the court’s rejection of the shareholder vote to reinstate Musk’s pay. This case highlights a familiar dynamic in corporate America: while companies try to pay workers as little as possible, executives often secure enormous compensation packages justified by the need to attract “top talent.”

Of course, executives themselves often set their own pay rates—and that talent attraction rarely trickles down to other roles.

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### Canada Threatens Legal Action Over Stellantis Jeep Production Shift

Stellantis manufactures many vehicles in Canada, but after tariffs imposed during the Trump administration, the company has started considering shifting some production to the U.S. Unsurprisingly, Canada isn’t happy.

*Automotive News* reports that Canada has threatened legal action following Stellantis’ announcement to move Jeep Compass SUV manufacturing from Brampton, Ontario, to Belvidere, Illinois.

Canada’s Industry Minister Melanie Joly labeled the move “unacceptable,” pointing out that Stellantis had previously received federal and provincial support based on an agreement to maintain its full Canadian footprint, including the Brampton plant.

Joly demanded Stellantis quickly identify new production mandates for the Brampton facility to keep it central to the company’s manufacturing footprint and ensure contracts with Canadian suppliers are honored.

While Canada may care less about the Compass specifically, the government is adamant that the Brampton factory continues operating. If it switches to making something else, that’s fine, but it has to stay active.

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### Federal Funding at Risk for GM and Stellantis Amid Political Shifts

Since the Trump administration prioritized rolling back climate-focused programs, the future of federal funding for progressive initiatives has become uncertain. These programs, often dismissed as “leftist” or “socialist,” include projects supporting electric vehicles and green technology.

*Automotive News* shares that the Department of Energy recently terminated funding for 233 projects described as part of “the Left’s climate agenda.” Included in a leak published by news outlet Semafor on October 7 are several awards tied to automotive giants: five for General Motors, two for Stellantis, plus others involving Bosch and Plug Power.

While the list has not been officially confirmed, Semafor has a reliable track record.

If GM and Stellantis begin losing federal funding—especially given that the U.S. has pushed them to conduct business domestically, sometimes at the expense of international advantages—their financial outlook and strategic calculations could change drastically.

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Stay tuned for more updates throughout the day!
https://www.jalopnik.com/1998560/tesla-still-fighting-for-elon-musk-56-billion-dollar-package/

Dutch government seizes control of China-owned chipmaker amid trade tensions

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**Dutch Government Seizes Control of China-Owned Chipmaker Amid Trade Tensions**

*By Mudit Dube | Oct 13, 2025, 04:09 PM*

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The Dutch government has taken control of Nexperia, a Chinese-owned semiconductor manufacturer, amid escalating global trade tensions and growing national security concerns. Nexperia is a key supplier of chips to the European automotive and consumer electronics sectors.

The intervention was officially announced by the Dutch Minister of Economic Affairs on Sunday, marking a significant move in the ongoing scrutiny of foreign ownership in critical technology industries.

### Security Concerns Prompt Government Action

Invoking the “Goods Availability Act,” the Dutch government placed Nexperia under external management to prevent potential disruptions in the supply of vital goods during emergencies. This decision comes amid heightened trade tensions between the United States and China and follows Beijing’s recent tightening of rare earth element export restrictions—materials essential to European manufacturing.

### Governance Issues at Nexperia

The Dutch authorities cited “recent and acute signals of serious governance shortcomings and actions” within Nexperia as a key reason for their intervention. These deficiencies reportedly threaten the continuity and protection of crucial technological expertise and capabilities within both the Netherlands and Europe.

This move reflects increased government vigilance over Chinese-owned entities operating in sensitive sectors such as semiconductor manufacturing.

### Market Impact

Following the announcement, Wingtech Technology Co., the Chinese parent company that acquired Nexperia for $3.6 billion in 2019, saw its shares fall by the daily limit of 10%.

Despite the government’s intervention, Nexperia is allowed to continue its regular production. However, the Dutch government now holds the authority to block or reverse company decisions. Additionally, Wingtech has been ordered to suspend any changes to Nexperia’s assets, business operations, or personnel for up to one year.

### Wingtech Responds to Government Measures

Wingtech has condemned the Dutch government’s action, describing it as an “excessive intervention driven by geopolitical bias, rather than a fact-based risk assessment.” The company maintains that it has “strictly abided by the laws and regulations of all jurisdictions” and operates with transparency at its sites in the Netherlands, Germany, and the United Kingdom.

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The Dutch government’s seizure of Nexperia highlights the increasing tensions and complexities surrounding foreign investments in strategic industries amid shifting global power dynamics.
https://www.newsbytesapp.com/news/business/dutch-government-takes-control-of-chinese-owned-semiconductor-manufacturer-nexperia/story

Cough syrup deaths: PIL in SC seeks CBI probe

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**Cough Syrup Deaths: PIL in Supreme Court Seeks CBI Probe**

*By Snehil Singh | October 7, 2025, 4:29 PM*

A Public Interest Litigation (PIL) has been filed in the Supreme Court seeking a Central Bureau of Investigation (CBI) probe into the deaths of 14 children in Madhya Pradesh, allegedly after consuming a cough syrup. The PIL demands an investigation led by a retired Supreme Court judge into the manufacturing, regulation, testing, and distribution of contaminated cough syrups, ANI reported.

Several children across different states reportedly died after consuming Coldrif cough syrup, which was found to contain diethylene glycol (DEG), a highly toxic industrial solvent.

### Ban and Quality Concerns

The Union Health Ministry has confirmed that Coldrif cough syrup, produced by Sresan Pharma in Tamil Nadu, contained DEG levels beyond permissible limits. A Drug Testing Laboratory in Chennai declared the product “Not of Standard Quality” after testing a sample, a finding also confirmed by the Tamil Nadu Directorate of Drug Control.

Following these findings and mounting concerns due to child deaths linked to suspected renal failure, Tamil Nadu became the first state to ban the sale and distribution of Coldrif syrup.

### Actions Taken by Other States

In response to the crisis, Madhya Pradesh and Kerala have also banned Coldrif cough syrup. Telangana issued a public alert warning consumers about the product, while the Punjab government directed all retailers and healthcare institutions to cease purchasing or using Coldrif.

The tragic incident has led to widespread confiscation of stock nationwide and prompted stringent revisions to drug prescription guidelines in states such as Kerala and Karnataka.

### Historical Context: WHO Warnings Over Indian Cough Syrups

This is not the first time Indian-made cough syrups have been linked to fatal outcomes. In 2022, the World Health Organization (WHO) associated cough syrups from Maiden Pharmaceuticals with the deaths of 70 children in The Gambia due to acute kidney injuries caused by DEG and ethylene glycol (EG).

In 2023, Uzbekistan reported at least 18 child deaths linked to Indian-made cough syrup manufactured by Marion Biotech, triggering another WHO warning.

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The ongoing investigation and regulatory actions highlight the urgent need for stricter quality control and oversight in pharmaceutical manufacturing to prevent such tragic incidents in the future.
https://www.newsbytesapp.com/news/india/cough-syrup-deaths-pil-seeks-cbi-probe-states-ban-coldrif/story

11 children’s deaths: Drug watchdog urges strict action against Coldrif

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**11 Children’s Deaths: Drug Watchdog Urges Strict Action Against Coldrif**

*By Snehil Singh | Oct 05, 2025, 11:11 am*

The Central Drugs Standard Control Organisation (CDSCO) is gearing up to take stringent action against the manufacturers of Coldrif syrup following the tragic deaths of 11 children, allegedly due to contaminated cough syrups.

The CDSCO has directed the Tamil Nadu Food and Drug Administration (FDA) to initiate strict measures under serious offense regulations, according to a report by news agency ANI.

### National Conference and Government Response

In response to this crisis, the Union Health Secretary is set to hold a video conference with health officials from all states and Union Territories. The meeting’s objective is to discuss the rational use of cough syrups and enforce drug quality standards nationwide.

This step comes after the deaths of 11 children in Madhya Pradesh and Rajasthan were linked to the consumption of contaminated cough syrups, raising serious concerns about drug safety.

### Ongoing Investigation and Risk-Based Inspections

The CDSCO has launched risk-based inspections of drug manufacturing units across six states — Himachal Pradesh, Uttarakhand, Gujarat, Tamil Nadu, Madhya Pradesh, and Maharashtra. Investigators have collected 19 samples from these states for thorough testing.

A multidisciplinary team of experts is currently analyzing the samples to pinpoint the exact cause behind the deaths reported in Chhindwara, Madhya Pradesh.

### Sample Analysis and Findings

Earlier this week, the CDSCO confirmed that six samples tested by them, along with three from the Madhya Pradesh Food and Drugs Administration, were free from toxic compounds such as Diethylene Glycol (DEG) and Ethylene Glycol (EG). These substances are known to cause severe kidney damage.

However, it was clarified that the tested samples did not include the two suspicious cough syrups, including Coldrif, which remain under scrutiny.

### Regional Actions Against Coldrif Syrup

In light of these developments, several states have taken proactive measures against Coldrif syrup. Kerala, Tamil Nadu, and Madhya Pradesh have imposed bans on its sale. Telangana has issued a public alert urging people to stop using the product immediately.

These actions are part of broader efforts to ensure drug safety and uphold quality standards across India, following the heartbreaking loss of children linked to contaminated cough syrups.

The investigation is ongoing, and authorities continue to monitor the situation closely to prevent further casualties.
https://www.newsbytesapp.com/news/india/drug-watchdog-urges-strict-action-against-coldrif-makers-report/story