Tech billionaires such as Bill Gates, Mark Zuckerberg and Elon Musk are not just among the richest people in human history. They also are exceptionally powerful socially, culturally and politically. While this is partly a reflection of the social status that our society attaches to wealth in general, what matters even more than simple wealth is that these particular billionaires are viewed as entrepreneurial geniuses who exhibit unique levels of creativity, daring, foresight and expertise on a wide range of topics. Add the fact that many of them control major means of communication through key social media platforms, and you have something almost unparalleled in recent history. Some individuals would always have more power than others, but how much power is too much? Once upon a time, power was linked to physical strength or military prowess, whereas now its perquisites usually stem from ‘persuasion power’, which, as explained in the book Power and Progress, is rooted in status or prestige. The greater your status, the more easily you can persuade others. The sources of status vary greatly across societies, as does the extent to which it is unequally distributed. In the US, status became firmly linked to money and wealth during the Industrial Revolution, and income and wealth inequality skyrocketed as a result. While there have been periods in which government intervention sought to reverse the trend, US society has always been structured around a steep status hierarchy. This structure is problematic for several reasons. For starters, the constant competition for status and the persuasion power it confers is largely a zero-sum affair, because status is a ‘positional good’. More status for you means less status for your neighbour, and a steeper status hierarchy implies that some people would be happy while many others are unhappy and dissatisfied. Moreover, investments in zero-sum activities tend to be inefficient and excessive compared with investments in non-zero-sum activities. Is it better to spend a million dollars on gold Rolex watches or on learning new skills? Both might have intrinsic value, the beauty of the watch versus the pride of acquiring new knowledge, but the first investment merely signals that you are richer and more capable of conspicuous consumption than others. The second, by contrast, increases your human capital and might also contribute to society.&nbsp; The first is largely zero-sum, and the second is largely non-zero-sum. Worse, the first can easily get out of hand as everyone spends even more on conspicuous consumption to stay ahead of others.&nbsp; Commentators often ask why someone with hundreds of millions of dollars would ever need hundreds of millions more. There are few things that you cannot afford if you already have $500 million, so why long for $1 billion? Because ‘billionaire’ is a rank of status.&nbsp; What matters is not the spending power, but the prestige and power that it confers relative to one’s peers. Under a ‘wealth is status’ equilibrium, a mad dash by the ultra wealthy to amass ever more wealth becomes inevitable. There are evolutionary and social bases for linking persuasion power to status and prestige. After all, it is individually rational to learn from people who have expertise, and it is reasonable to link expertise to success. Moreover, this form of learning is good for communities, because it facilitates coordination and a convergence toward best practices. However, when status is linked to wealth and wealth inequality grows very large, the foundation underpinning expertise starts to crumble. Consider the following thought experiment. Who has greater expertise on carpentry, a good, master carpenter or a hedge fund billionaire? It seems natural to choose the former, but the more that wealth confers status, the greater the weight attached to hedge fund billionaires’ views, even on carpentry.&nbsp; Or consider a more relevant contemporary example. Whose views on freedom of speech carry more weight today: a tech billionaire, or a philosopher who has long grappled with the issue, and whose evidence and arguments have been subjected to scrutiny by other qualified experts? Millions of people on X have implicitly chosen the former. The deeper we are drawn into the ‘wealth is status’ equilibrium, the more we might come to accept the supremacy of tech billionaires. Yet it is difficult to believe that wealth could be a perfect measure of merit or wisdom, let alone a useful proxy for authority on carpentry or freedom of speech.&nbsp; Moreover, wealth is always somewhat arbitrary. If the tech sector had not become so central to the economy and if it was not driven by such strong winner-take-all dynamics, today’s tech tycoons would not have become so rich. The fact that Gates and Musk have been taxed less does not make them any wiser, but it certainly has made them wealthier and thus more influential. French diplomat Ferdinand de Lesseps gained tremendous status in late 19th century France owing to his success in completing the construction of the Suez Canal in the face of longstanding British opposition to the project. Lesseps had foresight, and he demonstrated great skill in convincing politicians in Egypt and France that maritime international trade would become very important.&nbsp; Lesseps gained great status and prestige, but became reckless, unhinged and cocky, pushing the Panama Canal project in an unworkable direction that ultimately led to the deaths of more than 20,000 people and the financial ruin of many more (including his own family). Like all forms of power, persuasion power can make one hubristic, unrestrained, disruptive and socially obnoxious. Lesseps’ story has echoes in the behaviour of many billionaires today. While some of the wealthiest individuals do not use their wealth-derived status to influence critical public debates (think businessman Warren Buffett), many do.&nbsp; Gates, Musk, businessman George Soros and others do not hesitate to weigh in on matters that are important to them, and while it is easy to welcome such contributions from those whom we agree with, we should resist this temptation. It makes a lot of sense for society to tap into the knowledge and wisdom of those with expertise on a given topic, but it is counterproductive to amplify the status of those who already have plenty of status.&nbsp; It is not entirely the fault of billionaires that US policy is fueling massive inequality around the world. However, they should bear responsibility if they misuse the immense status that wealth affords them under conditions of rising inequality. That is especially true when they leverage their status to advance their own economic interest at the expense of others’, or to polarise an already divided society with provocative rhetoric or status-seeking behaviour. If unaccountable billionaires already wield too much undue social, cultural and political influence, the last thing we should want is to give them even bigger public forums, for example to Musk through his ownership of X. Instead, we should pursue stronger institutional means of limiting the power and influence of those who are already privileged, as well as reconsider the tax, regulatory and spending policies that created such massive disparities in the first place. The most important step would also be the most difficult. We need to start having a serious conversation about what we should value, and how we can recognise and reward the contributions of those who do not command vast fortunes.&nbsp; While most people would agree that there are many ways to contribute to society, and that excelling in one’s chosen vocation ought to be a source of individual satisfaction and the esteem of others, we have disregarded this principle and are at risk of forgetting it altogether. That, too, is a symptom of the problem. © Project Syndicate Daron Acemoglu, professor of economics at MIT is the co-winner of this year’s Nobel Prize for Economics with Simon Johnson with whom he also wrote Power and Progress: Our Thousand Year Struggle Over Technology and Prosperity. The other winner was James Robinson.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20241015091024_5a52f7a4b9be5c00a87113a400a503a0f3912f4146fe3054441da21818cea5ed.jpg" data-media-id="editor_0" data-image-id="20241015091024_5a52f7a4b9be5c00a87113a400a503a0f3912f4146fe3054441da21818cea5ed" data-rendition-name="original" width="650" height="1000" loading="lazy" alt="Power and Progress Daron Acemoglu"> </figure>

Daron Acemoglu

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The rich get richer and more powerful

<figure><img width="800" height="875" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101152/636a26e29c7e80680e043a3djpeg.jpg" alt=""/><figcaption>Diwakar Chettri</figcaption></figure>Nepal’s Maoists fought a decade-long war for equality and <a href="http://archive.nepalitimes.com/news.php?id=19666#.XG518KIzbIU" target="_blank" rel="noopener">inclusion</a>. They have been in power off and on for the past 13 years after the conflict ended. But a report released last month shows that Nepal’s wealth gap is wider than ever.The average income of the richest 10% of Nepalis is more than three times that of the poorest 40%. Worse, the richest 10% own 26 times the wealth of the poorest 10%. The wealthiest 7% of households own 31% of the agricultural land.Read also: <a style="font-weight: bold; background-color: #ffffff; letter-spacing: 0.01em; font-size: 15px;" href="https://www.nepalitimes.com/?p=21815&amp;preview=true" target="_blank" rel="noopener">Mind the Gap</a>, Editorial<a style="font-weight: bold; background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/?p=21822&amp;preview=true" target="_blank" rel="noopener">Some are more equal than others</a>, Anil Chitrakar<a style="font-weight: bold; letter-spacing: 0.15px; background-color: #ffffff;" href="https://www.nepalitimes.com/opinion/gadfly-opinion/removing-poverty-with-jobs/" target="_blank" rel="noopener">Removing poverty with jobs</a>, David Seddon<a style="font-weight: bold; letter-spacing: 0.01em; background-color: #ffffff; font-size: 15px;" href="https://www.nepalitimes.com/?p=21837&amp;preview=true" target="_blank" rel="noopener">Nepal's great income divide</a>, Ramesh KumarEven among the poor, women and excluded communities are even more deprived. Women own only 5% of the land in Nepal, and nearly half the Tarai <a href="https://www.nepalitimes.com/banner/nothing-to-lose-but-their-chains/" target="_blank" rel="noopener">Dalits</a> do not own their own farms, and 80% of the country’s indigenous families own less than 0.4 hectares of land.Poor women from minorities suffer triple discrimination: a poor Dalit woman is likely to receive less attention in <a href="https://archive.nepalitimes.com/article/nation/aim-for-fewer-patients-in-achham-possible-hospital,2022" target="_blank" rel="noopener">government hospitals</a>. Because of unpaid household work, women have lower socio-economic status, especially if they are from poorer <a href="https://archive.nepalitimes.com/regular-columns/GUEST-COLUMN/identity-politics-is-divisive-ideology,729" target="_blank" rel="noopener">marginalised communities</a>. Of the poorest women, half cannot read or write. A rich Nepali man is 50 times more likely to be literate than a poor woman.    ‘Gender inequality compounds the impact of economic inequality,’ states the Fighting Inequality in Nepal: the Road To Prosperity report released by HAMI, SAAPE and Oxfam, stating that remote, rural areas with ethnic minorities tend to be much poorer.The root of persistent inequality in Nepal is the unequal distribution of land. And although remittances from overseas workers has reduced the malnourishment rate, a third of children are still stunted and one in every ten children shows signs of wasting due to lack of food.Corruption, impunity and lack of accountability among the ruling elite perpetuates the vicious cycle keeping Nepalis poor. Experts say such a level of inequity is unsustainable in any country. If the wealth gap is not narrowed, not only will prosperity remain a distant dream, but Nepal could once again be mired in instability and conflict.

It's a rich man's world

This issue of Nepali Times focuses on growing inequality in Nepal. The income and wealth gap has been widening around the world, and Nepal is no exception.A few people on top of the wealth pyramid have a lot more than the numerous at the bottom. Governments and INGOs use the data to get aid which helps, in a strange way, to create a new category of people called the ‘Lords of Poverty’. Without too much generalisation, it is safe to say that poverty has become an industry in itself. Those who go to work every day to end <a href="https://www.nepalitimes.com/latest/security-reduces-poverty/" target="_blank" rel="noopener">poverty</a> would be unemployed and poor if they were successful.Read also:<a style="background-color: #ffffff; font-size: 15px; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/editorial/mind-the-gap-2/" target="_blank" rel="noopener">Mind the Gap</a>, Editorial<a style="background-color: #ffffff; outline: 0px; font-weight: bold; letter-spacing: 0.01em; font-size: 15px;" href="https://www.nepalitimes.com/?p=21837&amp;preview=true" target="_blank" rel="noopener">Nepal’s great income divide</a>, Ramesh Kumar<a href="https://www.nepalitimes.com/opinion/gadfly-opinion/removing-poverty-with-jobs/" target="_blank" rel="noopener">Removing poverty with jobs</a>, David Seddon<a style="background-color: #ffffff; outline: 0px; font-weight: bold; letter-spacing: 0.01em; font-size: 15px;" href="https://www.nepalitimes.com/banner/its-a-rich-mans-world/" target="_blank" rel="noopener">It’s a rich man’s world</a>, Ramesh KumarWe need to start with a general agreement that there is, was, and will always be <a href="https://www.nepalitimes.com/banner/nothing-to-lose-but-their-chains/" target="_blank" rel="noopener">inequality</a> in human society. But we can create a safety net so that no one should ever have to live below an agreed standard and quality of life. This is the role of the government.There are proven ways to do this, but in Nepal there is a <a href="https://www.nepalitimes.com/here-now/political-quagmire/" target="_blank" rel="noopener">lack of political will</a> to make it happen. Hence we struggle. Trickle up works better than trickle down, and concentrates wealth in the hands of fewer people. Redistribution has to be by design. Tax money spent on <a href="https://www.nepalitimes.com/banner/after-quantity-nepals-education-needs-quality/" target="_blank" rel="noopener">education</a>, <a href="https://www.nepalitimes.com/editorial/poor-health/" target="_blank" rel="noopener">health</a>, infrastructure, information technology are all great equalisers, but not sufficient by themselves.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101152/636a26e79c7e80680e043a3fjpeg.jpg" alt="" width="505" height="1024"/><figcaption>Subhas Rai</figcaption></figure>We know that in the United States and Nepal where there is poor state health care, families have been known to go bankrupt when a member contracts a serious illness. Medical expenses not just drain their savings, but some sell land or take children out of school to pay hospital bills.What can we do about poverty caused by <a href="https://www.nepalitimes.com/here-now/go-easy-on-the-booze-this-holiday-season/" target="_blank" rel="noopener">alcoholism</a>, crime, disability, accidents, fraud, drugs and other addictions and <a href="https://archive.nepalitimes.com/article/nation/stigma-and-silence-mental-health-nepal,3486" target="_blank" rel="noopener">mental conditions</a>? When parents separate, terrorists attack, industrial accidents occur, people are pushed below the poverty line.Take the example of a village where everyone is equal till one family buys a tv set and puts up an antenna. The neighbours without tv are suddenly poor.The Sherpas are not rich because <a style="background-color: #ffffff; letter-spacing: 0.01em;" href="https://www.nepalitimes.com/banner/a-terrifying-assessment-of-himalayan-melting/" target="_blank" rel="noopener">Mt Everest</a> is up the trail from their village, but because the world made climbing mountains a business for the adventure minded.The people of <a href="https://www.nepalitimes.com/banner/the-karnali/" target="_blank" rel="noopener">Karnali</a> became poor because of the militarisation of the India-China-Nepal border after the 1962 war leading to the loss of trade and livestock movement with Tibet. The people of Kathmandu became rich because the land they owned became very expensive mainly due to failed rural development over the past five decades, and the insurgency that drove people into the valley to buy small parcels of land.The Thakalis of the <a href="http://archive.nepalitimes.com/news.php?id=16488#.XG5kzqIzbIU" target="_blank" rel="noopener">Kali Gandaki</a> Valley are richer than other ethnicities in that region because they traded in salt when the British were ruling in India and had a virtual monopoly on this critical commodity. Did these create the inequality we see today in Central Nepal? It most certainly contributed.Our ancestors were rich or poor depending on how much land they owned. Today with a new idea and entrepreneurial qualities, a person can become very rich very fast. Many still do not understand the difference between property and intellectual property.The author of the Harry Potter books or the founder Facebook do not count their wealth in ropanis of land. How do we then define wealth? Few people will tell you how much money they actually have. The same people who plead poverty in front of the potential donors will prove to the US immigration officer that they can pay for a four year college degree, to obtain a visa.The world and Nepal consist of those who have a lot, those who have little, but the biggest group of people are those in debt, and have not yet paid for what they have. The US may appear rich, but it is $22 trillion in debt. Next door, more than 57% of India’s GDP is owned by 1% of its population. Does it mean anything? Building fancy modern hospitals in Kathmandu may contribute to GDP, but it is also an indicator that people are sick from <a href="https://www.nepalitimes.com/banner/poisoning-the-air-we-breathe/" target="_blank" rel="noopener">polluted air</a>, water and food poisoned with <a href="http://archive.nepalitimes.com/article/nation/pesticide-laced-vegetables-continue-to-poison,1555" target="_blank" rel="noopener">pesticides</a>.Anil Chitrakar is the President of Siddharthinc.

Anil Chitrakar

Some are more equal than others in Nepal

<img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107171144/636936839c7e80680e03fde5jpeg.jpg" alt="" width="1750" height="1182"/>Nepal is one of the top 20 countries in the world with fastest rising prosperity over the last 10 years, a trend to be celebrated by Nepal’s leaders and citizens.Nepal is among middle and low-income Asia-Pacific countries like Indonesia and India which have shown the sharpest improvement in their levels of prosperity in the past decade.The Legatum Prosperity Index tracks prosperity in 149 countries, and its report released last week has good news: global prosperity is at its highest level ever. More countries are becoming prosperous, and more people are living more prosperous lives.The Index also shows that rising wellbeing is linked to rising levels of prosperity. This might sound obvious, but there is a less clear relationship between wealth levels and wellbeing, where rising wealth does not necessarily translate into greater happiness.Prosperity entails much more than wealth, it reaches beyond the financial into the institutional, the judicial, and the wellbeing of the people of a nation – it is about creating an environment where each citizen can reach full potential. A nation is prosperous when it has an open economy, inclusive society, strong institutions and empowered people who are healthy, educated and safe. This leads to higher levels of wellbeing.Our analysis of what the top 20 rising countries have in common shows they all score highly for Safety and Security, one of the nine pillars used to measure prosperity and the key building block for prosperity. Ending war and conflict has proved to be the single most significant contribution to unlocking the prosperity of most rising countries, enabling widespread improvements across all the other pillars of prosperity.Nepal is a good example: having ended a decade long war in 2006 after a peace agreement was signed between Prime Minister Girija Prasad Koirala and Maoist leader Pushpa Kamal Dahal allowing the rebels to join a transitional government.This was an achievement of leadership at a time when war, terrorism and deprivation are rising significantly around the world. The fact that 15 of the 20 rising countries have improved in this pillar illustrates that insecurity from conflict and oppression can and must be overcome, before more broad-based prosperity can be achieved.In the past 12 years after the Comprehensive Peace Accord of November 2006, Nepal has witnessed a transition towards democracy, with the largest rises in the pillars of Personal Freedom, Business Environment, and Education.Within Personal Freedom, the biggest changes have come from the increase in people reporting satisfaction with freedom, and increased tolerance of LGBT rights. This follows legal reforms, such as the anti-discrimination laws, which have been in effect since 2015. In fact, Nepal is the third highest scoring country in Asia-Pacific (after New Zealand and Australia) in the sub-pillar of Social Tolerance.Nepal’s weakest pillar, however, is the deterioration of the natural environment with pressure on nature – in fact Nepal scores nearly at the bottom of the countries surveyed in terms of urban air pollution. There are also problems with labour market flexibility, anti-monopoly policies and health outcomes.Two countries in Asia Pacific exemplify the significant increase in economic wellbeing and prosperity: China and India. In the last decade, both countries have lifted huge numbers of people out of absolute poverty and have created economies that are growing much faster than those in the West, moving up eleven and six places respectively since 2007.Both countries, and the region more generally, are home to a growing middle class, who increasingly expect a higher standard of living, from the basics such as running water and electricity, to internet access and motor cars. However, there are significant differences in the way that they govern and the levels of freedom enjoyed by the citizens of these countries.My ambition for the Prosperity Index is that it becomes a tool for leaders around the world to help set their agendas for growth and development. The measurement of national prosperity is an important task for governments and for those who hold them to account.Nepal exemplifies that Safety and Security is a foundation of any successful nation-building and enables other pillars to follow.Baroness Philippa Stroud is the CEO of the UK-based Legatum Institute.

Security reduces poverty

<h4>How to make money in an unequal world</h4>		
					<figure><img width="1400" height="1050" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221107101156/6368d67e9c7e80680e031489jpeg.jpg" alt=""/><figcaption>Kunda Dixit</figcaption></figure>Only a handful of people in the world have more wealth than the rest of humanity. The number of zeroes behind their net worth is mind boggling, but what is even more difficult to understand is how some people became so rich while others have nothing.For example, every person in Kathmandu who has a few annas of land in Kathmandu is a rupee billionaire while ropanis and bighas of land in rural Nepal are not worth much. This is why many Valley residents feel they do not need to work like the rest of the world.There are others who watch television, see images of North America and Europe and feel that the moment they get to these places, they will become as wealthy as the people on screen. They also do not feel they have to work till they cross the immigration desk at Kathmandu airport.Many of us are aware of a time when we were able to buy one tola of gold when our salaries were Rs1000 a month. These days, if you make about Rs55,000 a month you can buy only one tola. If salaries were in gold, nothing would have changed. Twenty years ago, if you sold land and bought a vehicle, you now have no land and the vehicle is banned.About 25 years ago we bought a piece of land near Bhaktapur and watched its ‘value’ go up. We recently sold it and got many folds in return. With the money we made, we went to buy more land and realised we could only buy half the area we had sold.Unlike in rural Nepal where a subsistence way of life is an option, urban poverty is really bad here because only cash can get you what you need to survive – including water in a bottle. With the expansion of roads, which are regarded as the ultimate symbol of development, the traditional namlo has disappeared but are people better off and more wealthy? Mule train drivers have been replaced by truck drivers. What used to be a village where travelers spent the night are now only a few minutes or hours of drive in between and have lost their economic relevance.Food and vegetables grown for local consumption are now out of reach of locals who have no cash. <a href="http://archive.nepalitimes.com/article/editorial/Nepal-economy-supported-by-remittance-money,2874" target="_blank" rel="noopener">Remittance</a> from overseas workers plays a crucial role in ensuring that families have cash to pay for their basic needs. In some parts of Nepal, <a href="http://archive.nepalitimes.com/article/nation/bringing-in-two-miilion-tourists,3551" target="_blank" rel="noopener">tourism</a> has helped add to the income stream.Wealth creation becomes complex when we want to generate power from flowing rivers because it costs a lot of money up front and revenue does not come in for nearly a decade. There are market uncertainties which means you may not get the price you seek, or regulators who will not allow the power into the market because a particular country did not make the investment.Some want to create wealth by making a<a href="http://archive.nepalitimes.com/article/nation/products-made-in-nepal,3345" target="_blank" rel="noopener"> watch using rocks from the top of Mt Everest</a> for the dial. Religion and the fear of god seem to be a good means of wealth creation in the form of fees for rituals. Cold drinks, alcohol and processed food look like easy money makers as well. Nepal has a billionaire in the Forbes list who makes ready-to-eat noodles.But most Nepalis, like billions others around the world, make a living buying low and selling high. Most get by with a salaried jagir or renting out floor space. Artists seem to do really well when it comes to value creation. They take a piece of rock or a sheet of copper and create a masterpiece that can fetch huge returns. It is however not easy to find buyers. Most wealthy countries make money by making and selling weapons, and preventing others from doing the same. They need wars to stay rich.Some people in Nepal and the world are rich because they take resources such as trees, land, water, oil, minerals and people as a ‘free good’ and then monetise them. If you think wealth creation is complicated, wait till we discuss wealth distribution in the next installment.Anil Chitrakar is President of Siddharthinc

A wealth of meaning

Fenerbahçe Beko won the Turkish Airlines EuroLeague finals in Abu Dhabi, held 23-25 May, defeating Monaco 81-70 in the final. Olympiacos, who defeated Panathinaikos 97-93, finished the series in third place. The Most Valuable Player (MVP) of the final match, Nigel Hayes-Davis from Fenerbahçe Beko, received a prize of 1,000,000 Miles&amp;Smiles from Turkish Airlines’ Chief Commercial Officer Ahmet Olmuştur. The carrier has been the title sponsor of the Turkish Airlines EuroLeague, a top tier tournament, since 2010.

Turkish Basketball

Thousands of Nepali students dreaming of an American education have been forced to look elsewhere as the Trump administration’s visa restrictions make their future uncertain.
The US was long considered a top destination for higher studies, making Nepal the 10th biggest country of origin for international students in America.&nbsp;
However, that number has seen a significant decline with the total for Nepali students now at 16,482. Some 8,000 Nepali students obtained no-objection certificates to study in the US from the Ministry of Education in the past year.&nbsp;
India, Australia, Canada, South Korea, United Kingdom and Japan are the other popular destinations for Nepali students. There are no clear numbers for Nepalis going to India, but a slight decline was noted this year after the deaths of two female students.
The US State Department has issued a circular to its embassies not to issue new visas to applicants until further notice. US Secretary of State Marco Rubio in the directive stated that the department planned to expand the screening of applicants' social media.&nbsp;
While new applicants are barred including those applying for visitor visas, students with scheduled interviews are allowed to proceed.
“Many of our students are affected by the new restrictions, but those who had applied for student visas earlier have got interview dates,” one Kathmandu-based college counsellor told us.
Meanwhile, even foreign students with spotless records already in the US have not been spared, as visa scrutiny intensifies under the new policy. In a move that underscores the growing sense of insecurity, many US colleges advised international students to carry their passports and documents at all times, even when traveling locally.
“Me and my friends did not go home this summer because we were not sure we would be allowed back, so we just went to Niagara Falls,” said a Nepali undergrad in Ohio, who like many interviewed for this report did not want her name used for fear of repercussion.
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Nepali students have adopted a cautious stance, with many choosing not to return home during summer vacation due to fear of visa revocations as well as travel bans. Meanwhile, over 7,000 Nepalis with Temporary Protected Status (TPS) will have to come back to Nepal by 5 August or face deportation. Thirty-seven were flown back to Kathmandu on Omni Air last week.
“The US is one of the most sought-after destinations for higher education, and the ban will definitely impact bright students,” says Narottam Aryal of the King’s College in Kathmandu.
Indeed, Nepali undergraduates admitted into Ivy League colleges for the 2025 academic year have been asked to look for alternatives. The entire Fulbright Foreign Scholarships Board resigned on Wednesday citing interference from the Trump administration on the selection of this year’s cohort. Some Nepali students already on Fulbright scholarships have noted disruptions, delays and even cancellation of stipends.&nbsp;
The student visa restrictions were initially just for foreign students admitted to Harvard University, but it was later extended to all Chinese students and now to all students. Universities like Columbia which actively recruit foreign students, face sharp enrolment declines, threatening their financial stability and diversity.
An Indian female PhD candidate at Columbia University had her visa revoked by the US State Department, and said she was targeted on the basis of her social media posts on Israeli military attacks in Gaza. Social media vetting of political activism has raised concerns about privacy and freedom of expression in a country where such rights were a given.
Many students have been informed via email that their visas have been revoked for getting speeding or parking tickets, but even others with no criminal record have been affected. The fear of deportation looms large amongst international students, including those from Nepal.&nbsp;
For most Nepalis who migrate to the US for education, the journey is a high-stakes investment. They come largely from middle-class families, often rely on a patchwork of scholarships, work-study programs, loans, or even the sale of family assets to afford fees.
Most Nepali students pursue STEM subjects which offer extended Optional Practical Training (OPT) periods that help fund their education. But with the US backsliding on education and humanitarian matters, countries like the UK and Canada are becoming more attractive despite their own recent stricter controls on student visas.&nbsp;
The UK universities saw a 63% rise in Nepali students’ admissions in 2024. Japan is another popular destination with 64,816 Nepali students enrolled as of 2024.
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Already, China, Hong Kong and Malaysia are poised to benefit from the increased scrutiny of US student visas. Several Hong Kong universities are offering unconditional admission to affected students, while Malaysian institutions are targeting previously US-bound Asian students. China and India have 330,000 and 280,000 students respectively in America, but the numbers for China have seen a sharp drop in the past year.
Elsewhere, branch campuses of American institutions such as NYU in Abu Dhabi, Georgetown in Dubai and Northwestern in Doha are getting more admission applications, and universities in the Gulf region are expanding infrastructure to accommodate those who would otherwise have gone to the US.&nbsp;
Even educational institutions in Nepal are hopeful that the US visa restrictions can be an opportunity to at least keep Nepali undergrads in Nepal, and also attract foreign students from the region.&nbsp;
“Many students might choose to complete their undergraduate degree here in Nepal and then move abroad for their Master’s degree later,” says Aryal of King’s College. “There was a need for quality higher education in Nepal anyway in terms of innovation and opportunities, so this could be the time to reduce our dependence on other countries.”
Nepal’s strategic position between India and China makes it sensitive to US policy shifts. India, a key ally, is also under US scrutiny for potential student travel restrictions. Chinese universities are already offering more scholarships to Nepali talent to capitalise on the US retreat.
American universities have challenged student visa restrictions in the courts. A federal court in Boston revoked the blanket ban on Harvard, and the State Department has ordered the resumption of processing student and exchange visitor visas.&nbsp;
Some are still hoping that President Trump will backtrack on the student visa restrictions, just like he has done with many of his more drastic executive orders.
Even so, the visa see-saw and longer-term uncertainties about living in the United States and its education system means students across the world are making alternative plans.
Says Aryal: “Policies of foreign countries change according to their needs, so excessive dependence was never a good idea. We should work to create different opportunities and choices of higher education within Nepal, so students are retained.” &nbsp;

America no longer prime destination for Nepali students

While Nepal was hosting the Sagarmatha Sambaad international climate conference in Kathmandu this month, on Mt Everest it was pretty much business as usual.&nbsp; The signs of climate breakdown are all there: a river now runs through Base Camp in summer, the Khumbu Icefall is more unstable, and there are more &nbsp;frequent avalanches. When expeditions arrived in March, the mountains were bare: it had not snowed since September, but then blizzards dumped unseasonal snow in May. And despite climate worries, such is the pull of Himalayan mountaineering that the Everest Industry showed no signs of slowdown. More than 600 international climbers and their Nepali guides had made it to the summit of the world’s highest mountain. At one point there were an estimated 2,000 people in the tent city on the Khumbu Glacier. All the ropes and ladders on the Icefall came down on Thursday, marking the official end of the spring climbing season, and just in time to avoid a monsoon cyclone approaching from the Bay of Bengal. It has been an action-packed season. One factor could be that Everest fees will go up from September: each foreign climber needs to pay a $15,000 royalty, up from the present $11,000. The cost for a Nepali climber on the South Col route will also go up: from Rs75,000 to Rs150,000.&nbsp; The fee to climb Everest in autumn is $7,500 (up from $5,500), but most climbers still prefer spring. Winter permit fee (December-February) is only $3,750 per person and the mountain is now also open for monsoon (June-August) climbs, when the fee is ever lower at $2,750. The revised rule also makes it mandatory for every two climbers on an 8,000m peak to hire one Nepali mountain guide.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025053004050_67f856fe52714e4bdcf21ae7d45c6f18c82117b9d0a5f73ed1efa04c96de1046.jpg" data-media-id="editor_0" data-image-id="2025053004050_67f856fe52714e4bdcf21ae7d45c6f18c82117b9d0a5f73ed1efa04c96de1046" data-rendition-name="original" width="931" height="732" loading="lazy" alt="The Everest Industry graph 1"> </figure>  In addition, climbers also have to pay for porters and guides, equipment, Base Camp costs, Ice Fall and fixed rope team fees, so climbing Everest does not come cheap. But such is the draw of climbing the world’s highest peak that some say the increased fees will not diminish the crowds next year. The government has tried to spread expeditions out to other seasons and other 8,000ers, but with not much success. Earlier this year, Nepal unilaterally increased the number of 8,000m peaks to 14 by adding six more sub-summits to broaden the choice for climbers. Added were: Yalung Kang (8,505m), Yalung Kang West (8,077m) &nbsp;Kangchenjunga Central (8,473m), Kangchenjunga South (8,476m), Lhotse Middle (8,410m) and Lhotse Shar (8,400m).&nbsp; The announcement could go against the accepted topographic criteria that a stand alone peak has to be at least 300m higher than an adjoining prominence, and at more than 3km isolation from it. The UIAA (Union Internationale des Associations d'Alpinisme) still recognises only 14 mountains as eight-thousanders, and only eight of those are in Nepal, or on the border with China. Nepal’s revised mountaineering regulations also increased the insurance coverage of high-altitude workers to protect porters and high altitude guides who usually take more risks on the mountains. Rescue teams and clean-up campaigners to collect trash and remove bodies of dead climbers up to Camp IV of Mt Everest do not need permits.&nbsp; The Sagarmatha Pollution Control Committee is now using drones to fly down trash in 20kg sacks. Each climber is also required to bring down at least 6kg of waste and not just their own, but this rule is erratically enforced. With five fatalities on Everest and Lhotse, Spring 2025 had a historically low death toll. Another five climbers died on Annapurna, Kangchenjunga and Makalu.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/2025053004050_38681de22f0fefb6faa12b01755566d09c5064d0ff84e12ccc7b5d68ea9ba38a.jpg" data-media-id="editor_1" data-image-id="2025053004050_38681de22f0fefb6faa12b01755566d09c5064d0ff84e12ccc7b5d68ea9ba38a" data-rendition-name="original" width="665" height="740" loading="lazy" alt="The Everest industry graph 2"> </figure>  Journalist Ben Ayers who ran the Everest Live social media channel from Everest Base Camp with daily updates credited the low death rate to dramatic rescues of climbers from the ‘Death Zone’ by their Nepali guides and longline helievacs — the visuals all uploaded on YouTube.&nbsp; “Ironically, this perception of safety is bringing more and more inexperienced climbers to the mountain, and they need more rescues,” Ayers said in one of his dispatches.&nbsp; American expedition chronicler and summiteer Alan Arnette suspects there is a lot of under-reporting given that the jet stream and storms were lashing Everest even till late in the season. He told us: “I heard a lot about frostbite and rescues that were not made public. It’s become practically impossible to cover the details on Everest. All the teams report nice news, and they don’t talk about bad stuff to avoid hurting businesses.” Although trash on Nepal’s mountains makes headlines, what does not receive as much attention is the climate impact of so many expeditions. The Sagarmatha Sambaad conference sidestepped this issue, which is ironic given that the impact of climate breakdown is most evident on Himalayan peaks and their glaciers.&nbsp; <h2>Need for Speed</h2> The big stories this year have been about speed-running from their home cities to the top of Everest. Ukrainian entrepreneur Andrew Ushakov flew out of JFK on 15 May at 10:15AM Nepal time, and was on the summit 3 days, 23 hours, and 7 minutes later on 19 May at 9:22AM.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250601080640_1c5cc6fc991307861768f07037ed9d30930fb20f35dbb57dc31c9a92a9e1a885.jpg" data-media-id="editor_2" data-image-id="20250601080640_1c5cc6fc991307861768f07037ed9d30930fb20f35dbb57dc31c9a92a9e1a885" data-rendition-name="original" width="1440" height="1800" loading="lazy" alt="The Everest Industry"> <figcaption>Andrew Ushakov at the summt. Photo: ELITE EXPED</figcaption> </figure>  “I could never find the time for the traditional 40-50 days of acclimatisation,” Ushakov explained matter-of-factly. His ‘Everest Sea-to-Summit’ climb was possible because he spent 400 hours in hypoxic sleep tents over the past four years in New York. However, Ushakov did use ropes already fixed, hired four Nepali guides, helicoptered to Base Camp, and used much more oxygen than an average climber. And after the climb, Ushakov was arrested at Kathmandu airport for being in possession of $20,000 of undeclared cash and spent a night in jail and fined $60,000.&nbsp; The other speedsters were Garth Miller, Alastair Cairns, Anthony Stazicker, and Kev Godlington, all former British Army commandos. They left London and summited five days later on 21 May, and flew right back. They also used hypoxic tents to simulate the thin air high on Everest.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250601080644_90c8dd5cc07b4b43f2989b1dc0c0650ab80f10ebb06680c25a6909c519957bd8.jpg" data-media-id="editor_3" data-image-id="20250601080644_90c8dd5cc07b4b43f2989b1dc0c0650ab80f10ebb06680c25a6909c519957bd8" data-rendition-name="original" width="810" height="668" loading="lazy" alt="The Everest Industry "> <figcaption>All four members of the Furtenbach team at the summit. Photo: Sandro Gromen-Hayes</figcaption> </figure>  But more controversial was their use of xenon gas therapy in a German hospital to ramp up the production of oxygen-carrying haemoglobins in their blood. Xenon is banned by the World Anti-Doping Agency for being performance enhancing in sports. Expedition leader Lukas Furtenbach said this rule does not apply to mountaineering, as it is not a regulated sport like swimming. Nepal has no rules about xenon, but the Department of Tourism said it was launching an ‘investigation’ to decide on future policy since it is difficult to ban xenon, but allow oxygen. The controversy has also divided the mountaineering community, with some climbers saying they just want to maximise their chances of survival. Spending less time on the mountain could make climbing safer by reducing avalanche risk. It would also mean less trash on the mountains, but it would reduce the income of Nepal’s expedition industry. It is also unclear how much of the success was due to xenon therapy and whether the ex-special forces were already in good physical shape.&nbsp; The need for speed hides the fact that climbing in the Himalaya is dangerous business, and climbers cannot sprint to the top just by huffing xenon. But ultra-fast climbs could be charged more, and the revenue generated can be used to establish state-of-the-art rescue operations, and increase pay and insurance for guides. Two other speed chasers this season were Swiss-Ecuadorian Karl Egloff and American Tyler Andrews, both on Everest without oxygen. Andrews choppered to Base Camp to catch a weather window, but turned back from 8,500m due to high winds. Heavy snow and wind also forced Egloff to descend from 7,000m. Slow and steady climbers like Anja Blacha from Germany did make it to the summit without oxygen, while Kami Rita Sherpa broke his own record with his 31st Everest summit as he led a 26-strong Indian Army group. There were 468 permits issued for foreign climbers from 48 expeditions to Everest this spring. Nepal’s other eight-thousanders together had only 17 expeditions. Nepal has more than 1,000 peaks above 6,000m, and has opened only 476 of them for climbing.&nbsp;

The Everest Industry

While Nepal marked <a href="https://nepalitimes.com/news/mt-everest-pvt-ltd">Mt Everest</a> Day on 29 May, on the other side of the planet in the US state of Colorado dozens of Nepalis who have climbed the world’s highest peak multiple times were busy working as chefs and Uber drivers. Among them is Nima Doma Sherpa, who climbed Mt Everest in 2019 after her husband Tshering Wangchu was among 16 crushed by an avalanche on <a href="https://nepalitimes.com/banner/on-thin-ice-in-the-khumbu">the Khumbu Icefall</a> five years earlier. A large serac broke off the West Shoulder of <a href="https://nepalitimes.com/news/the-everest-industry">Mt Everest </a>and fell directly on a group of <a href="https://nepalitimes.com/opinion/more-porters-sick-on-everest-trail">porters and guides</a> making their way up the Icefall at 5,800m. Their bodies were flown by helicopter to Khumjung where Tshering Wangchu was born. He was excited about climbing Mt Everest for the first time.&nbsp; In Khumjung, Nima Doma felt like her own life had also ended. This was the kind of news Sherpa wives, mothers and sisters dreaded every <a href="https://nepalitimes.com/here-now/peak-climbing-season-2025-s4abrxny">mountaineering season</a>. She stayed home for more than two years grieving, but ultimately gathered up all her emotional strength to take care of her 6-year-old son and 3-year-old daughter. Nima had grown up in Khumjung hearing <a href="https://nepalitimes.com/review/stories-of-nepal-s-summiteers">tales of adventure on the mountains </a>from their father, Ang Chubi Sherpa who had climbed Everest in 1993. He used to bring her and her sisters and brother European chocolates after every expedition, and used to tell them that the chocolate bars grew on the mountains. “It was only after we got older did we realise that he told us that chocolates grew in the mountains so we would not worry about him putting himself in harm's way,” Nima Doma recalled with a faraway look at her home in Boulder this week. Nima went to the school that <a href="https://archive.nepalitimes.com/article/Nepali-Times-Buzz/commemorating-edmund-hillary-in-nepal,4145">Edmund Hillary</a> opened in Khumjung till Grade 8, and then dropped out to help in the kitchen and <a href="https://nepalitimes.com/here-now/when-yaks-go-so-does-culture">tend yaks</a>. She was married off to Tshering Wangchu, who was also a high altitude guide. When Tshering went on expeditions, Nima also started working as a porter from Namche to Base Camp. It was perhaps her father’s tales of mountains of chocolates that had always attracted her to <a href="https://nepalitimes.com/here-now/knowing-our-mountains-43v4iyvo">the peaks</a>. After her husband was killed ten years ago this month, being a widow with children was not easy for Nima Doma. But she was not alone: there were at least 200 single mothers in <a href="https://nepalitimes.com/here-now/khumbu-since-1950-jaww4qn0">the Khumbu</a>, and 20 of them just in Khumjung whose husbands had been killed in <a href="https://archive.nepalitimes.com/article/nation/tragic-start-to-himalayan-spring-nepal,3695">mountaineering accidents</a>. Some were not even 20 years old, and had children growing up without fathers. But there were also women in the 50s whose husbands had been killed in the 1980s. Nima found sponsors for her children’s education, and moved to Kathmandu. In the capital, Sherpa widows used to meet to help each other. Some of them had joined the Nepal Mountaineering Association (NMA) training for rock and ice climbing. “I decided that it was no use sitting home and crying anymore, after meeting other single mothers I felt less alone,” remembers Nima, who joined the Juniper Foundation and enrolled in an NMA training camp in Manang. There she climbed Chulu East (6,584m) and met Furadiki Sherpa, whose rope-fixing husband had also been <a href="https://nepalitimes.com/news/on-mt-everest-s-70th-records-and-fatalities">killed on Everest</a> in 2013. They set themselves the goal of climbing Everest one day, and started a fund-raising drive.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250530090544_621be0724b9182c8e3594b2c562a71ec32ac01d985a71d0cf31646de9d51e15a.png" data-media-id="editor_12" data-image-id="20250530090544_621be0724b9182c8e3594b2c562a71ec32ac01d985a71d0cf31646de9d51e15a" data-rendition-name="original" width="2678" height="1274" loading="lazy" alt="Everest summiteers find new life in the US"> </figure>  “We decided we had to overcome society’s stigma of <a href="https://archive.nepalitimes.com/article/nation/widows-personal-happiness-comes-last-in-face-of-social-financial-hardships,1855">widowhood</a> and prove that <a href="https://nepalitimes.com/here-now/remembering-junko-tabei">women could also climb mountains</a>,” Nima said, adding that she was inspired by Nepal’s first woman Everest summiteer Pasang Lhamu Sherpa, who died during her descent in 1993. Nima Doma and Furdiki climbed the technically-difficult Ama Dablam (6,812m) and then arrived at Everest Base Camp in April 2019 as part of their Two Widows Expedition with the motto, ‘So Can We’. While climbing up the Icefall Nima passed the spot where her husband had been killed. It was a jumble of constantly-shifting ice blocks bigger than houses. She closed her eyes and said a prayer. “I remember thinking, this is so difficult and dangerous. This is what my husband had to do to support our family,” Nima Doma said. “I was determined to fulfil my husband’s dream of climbing Chomolungma, and to prove to ourselves that we two women could do it.” It was 23 May 2019 when <a href="https://www.reuters.com/article/world/two-sherpa-widows-scale-everest-and-smash-stigma-idUSKCN1SU0MV/" target="_blank">Nima and Furdiki stepped on the summit</a> and looked over into Tibet, and down at Tengboche Monastery to the south.&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20250530090544_6b822582b5d88ba5e972db084f184690b40653c6efd9901b2dd082ffba2a263b.png" data-media-id="editor_16" data-image-id="20250530090544_6b822582b5d88ba5e972db084f184690b40653c6efd9901b2dd082ffba2a263b" data-rendition-name="original" width="2700" height="1522" loading="lazy" alt="Everest summiteers find new life in the US"> </figure>  Nima Doma hugged Furdiki, took off her mask and wept. But for the first time in five years, it was not from grief but relief — relief for being free of all the sadness and sacrifices and for fulfilling her husband’s dream. They had found <a href="https://nepalitimes.com/here-now/life-after-death">life after death</a>. “I felt this immense joy to be on top of the world, it was indescribable,” Nima Doma said, “I have wept only twice in my life. Once when my husband died, and once there on top of Everest.” The tears had frozen on Nima Doma’s cheeks, as she and Furdiki headed back down the mountain.