Since returning from this year’s World Economic Forum meeting in Davos, I have been asked repeatedly for my biggest takeaways. Among the most widely discussed issues this year was artificial intelligence – especially generative AI (‘GenAI’). With the recent adoption of large language models (ChatGPT) there is much hope – and hype – about what AI could do for productivity and economic growth in the future.
But our world is dominated far more by human stupidity than by artificial intelligence. The proliferation of <a href="https://www.project-syndicate.org/onpoint/megathreats-remain-despite-moderation-of-pandemic-and-other-shocks-by-nouriel-roubini-2023-11">megathreats</a> – each an element in the broader ‘polycrisis’ – confirms that our politics are too dysfunctional, and our policies too misguided, to address even the most serious and obvious risks to our future.
These include climate change, failed states which will make waves of climate refugees even larger, and recurrent virulent pandemics that could be even more economically damaging than Covid-19.&nbsp;
Making matters worse, dangerous geopolitical rivalries are evolving into new cold wars such as between the United States and China, and into potentially explosive hot wars, like those in Ukraine and the West Asia.&nbsp;
Around the world, rising income and wealth inequality, partly driven by hyper-globalisation and labor-saving technologies, have triggered a backlash against liberal democracy, creating opportunities for populist, autocratic, and violent political movements.
Unsustainable levels of private and public debt threaten to precipitate debt and financial crises, and we may yet see a return of inflation and stagflationary negative aggregate supply shocks. The broader trend globally is toward protectionism, de-globalization, de-coupling, and de-dollarisation.
Moreover, the same brave new AI technologies that could contribute to growth and human welfare also have great destructive potential. They are already being used to push disinformation, deepfakes, and election manipulation into hyperdrive, as well as raising fears about permanent technological unemployment and even starker inequality. The rise of autonomous weapons and AI-augmented cyber-warfare is equally ominous.
Blinded by the dazzle of AI, Davos attendees did not focus on most of these megathreats. This came as no surprise. The WEF zeitgeist is, in my experience, a counter-indicator of where the world is really heading. Policymakers and business leaders are there to flog their books and spew platitudes. They represent the conventional wisdom, which is often based on a rear-window view of global and macroeconomic developments.
There is a very good chance that AI will indeed change the world in the coming decades. But the WEF’s focus on GenAI already seems misplaced, considering that the AI technologies and industries of the future will go far beyond these models. Consider, for example, the ongoing revolution in robotics and automation, which will soon lead to the development of robots with human-like features that can learn and multitask the way we do.
Or consider what AI will do for biotech, medicine, and ultimately human health and lifespans. No less intriguing are the developments in quantum computing, which will eventually merge with AI to produce advanced cryptography and cybersecurity applications.
The same long-term perspective also should be applied to climate debates. It is becoming increasingly likely that the problem will not be resolved with renewable energy – which is growing too slowly to make significant difference – or expensive technologies like carbon capture and sequestration and green hydrogen. Instead, we may see a fusion energy revolution, provided that a commercial reactor can be built in the next 15 years.&nbsp;
This abundant source of cheap, clean energy, combined with inexpensive desalination and agro-tech, would allow us to feed the ten billion people who will be living on the planet by the end of this century.
Similarly, the revolution in financial services will not be centered arounddecentralisedblockchains or cryptocurrencies. Rather, it will feature the kind of AI-enabled centralisedfintech that is already improving payment systems, lending and credit allocation, insurance underwriting, and asset management.&nbsp;
Materials science will lead to a revolution in new components, 3D-printing manufacturing, nanotechnologies, and synthetic biology. Space exploration and exploitation will help us save the planet and find ways to create extra-planetary modes of living.
These and many other technologies could change the world for the better, but only if we can manage their negative side effects, and only if they are used to resolve all the megathreats we face. One hopes that artificial intelligence someday will overcome human stupidity. But it will never get the chance if we destroy ourselves first.
©Project Syndicate
Nouriel Roubini, Professor Emeritus of Economics at New York University’s Stern School of Business, is author of <a href="https://www.littlebrown.com/titles/nouriel-roubini/megathreats/9780316284059/">Megathreats: Ten Dangerous Trends That Imperil Our Future, and How to Survive Them</a> (Little, Brown and Company, &nbsp;2022). <a href="https://nourielroubini.com/">NourielRoubini.com</a>

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Artificial Intelligence vs Human Stupidity

The World Economic Forum’s annual list of Young Global Leaders (YGL) has featured very few Nepalis so far. The 2015 batch included <a href="https://archive.nepalitimes.com/article/nation/Policies-for-the-people,3640" target="_blank" rel="noopener">Nepali Congress MP Gagan Thapa</a>.Others who have made it to the list include Aashmi Rana (2009), Ashutosh Tiwari (2011) and Tshering Lama (2015).Now, Nepali youth and social activist Pradip Pariyar has surprisingly, but deservedly, found a place on the list for his contribution to social inclusion and peace-building involving Nepal’s youth. Pariyar is the executive chair of the Kathmandu-based non-profit <a href="https://www.samatafoundation.org/" target="_blank" rel="noopener">Samata Foundation</a>.		
							<figure><img width="1000" height="667" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221109101152/636b789d9c7e80680e0646aejpeg.jpg" alt=""/><figcaption>Activist and executive chair of Samata Foundation Pradip Pariyar. Photo: SANTU LAMA</figcaption></figure>His inclusion puts Pariyar in the company of Jacinda Ardern, Mark Zuckerberg, Jack Ma, Chelsea Clinton, Farhan Akhtar and Viswanathan Anand. Many previous YGL title-holders are now running governments, heading international organisations and changing the world with innovative business ideas.After making it onto the YGL list, a delighted Pariyar told the Nepali Times: “This is a very big moment not just for me, but also for my country and people.”The road thus far has not been easy for 38-year-old Pariyar. Born to a Dalit family in Sindhuli district, he had to struggle against untouchability and caste discrimination from a very young age.“Untouchability is as inhumane as apartheid, or even more so,” said Pariyar, who first experienced it as an innocent ninth grader. Every evening after school, he used to go for tuition to the house of a math teacher who was a Brahmin. The teacher would allow his non-Dalit pupils to sit inside, but Pariyar was made to sit outside the door.  One evening, it started to rain, and the young Pradip got wet. The teacher saw him drenched and shivering outside, but still did not ask him to come in and sit with the others. Pariyar felt hurt and humiliated, and never went back to the teacher’s house again.“That sowed the first seeds of caste consciousness in my young mind, and defined my later activism,” says Pariyar.Pariyar recalls the importance of his encounter with Dalit activist and politician Golchhe Sarki in the 1990s, who once created a sensation by throwing his shoes at Nepali Congress leader Ram Chandra Poudel for the latter’s racist remarks.Sarki had spent a night at Pariyar’s family home in Sindhuli during a political campaign. He had spoken with Pariyar’s father about <a href="http://archive.nepalitimes.com/news.php?id=16791#.Xmi1AXIzbIU" target="_blank" rel="noopener">caste, Dalits, untouchability and politics</a>, and the young Pradip had listened attentively. He also understood why Sarki was staying with his family and not at the house of a non-Dalit communist cadre.Pariyar came to Kathmandu for higher studies, and caste discrimination pursued him to the capital. He was hounded out of his rented room many times, and finally found a Muslim landlord who agreed to take him in.   Years of suffering discrimination has forged Pariyar into a fierce social justice activist. He went on to produce radio programs, inspiring Dalits to share their stories of discrimination, exclusion and injustice.He says Dalits and other excluded ethnicities still feel excluded by the Nepali state, and says: “The absence of violence does not mean there is peace.”When the war ended in 2006, Pariyar travelled through the mid-western mountains, where he met many disoriented, disillusioned and hopeless youth. He realised it would not be possible to build peace without engaging the youth and igniting their minds. He founded Nepal Youth Forum, and also served as chair of the Association of Youth Organisations Nepal (AYON).Pariyar was also a member of the taskforces that drafted Nepal’s first National Youth Policy, and the Youth Vision (2015-2025). He says one of the reasons why Nepal is being run the way it is today is because younger Nepalis have not been given the chance to formulate policy and govern.  He says: “Youth in all the parties have not been able to challenge 70-something top leaders, and instead of confronting them the young cadre are just waiting for their turn to get old and claim the posts. This does not bode well for our future”.

Nepal’s new Davos man

<figure><img width="1400" height="1138" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101132/636a22c99c7e80680e0417a9jpeg.jpg" alt=""/><figcaption>Diwakar Chettri</figcaption></figure>Prime Minister K P Oli is flying off to Davos to attend the World Economic Forum on 20 January with a 18-member delegation. This is the first time a Nepali leader has been invited, and it is interesting that a communist is going to a capitalist conclave of free marketeers.Unlike some others party heads from China or Vietnam who have attended Davos, Nepal’s prime minister is the first democratically-elected Communist leader to do so. According to PM Oli’s foreign policy adviser Rajan Bhattarai, the invitation to attend is a recognition of Nepal’s achievement in ending the conflict, holding elections under a new constitution, and its commitment to lifting living standards through stability. The Prime Minister will be speaking at two panels, one on South Asian security and another titled ‘Beyond GDP’, where he is expected to promote Nepal in the global arena as a politically stable nation with a favourable environment for international investment. He will meet the Swiss and Vietnamese presidents, and attend a private dinner hosted by the World Economic Forum Executive Chair Klaus Schwab.Read also: <a href="https://www.nepalitimes.com/editorial/crony-communism/" target="_blank" rel="noopener">Crony Communism</a>, EditorialHowever, experts say Nepal’s leader will be judged more by what he does than what he says. Nearly a year after becoming prime minister, Oli gets generally failing grades on transparency, accountability and investment climate.Former diplomat and UN official Gyanendra Acharya says that networking with international businesses and leaders in Davos will in fact be more important than performances at panels. As Nepal tries to take the great leap forward to middle income status in the next decade, Foreign Direct Investments (FDI) will be necessary to create employment opportunities, develop infrastructure and to propel sustainable growth. But the inflow of FDI has been minimal in the past five years, and FDI makes up only 1% of the GDP.Says Nepal’s former ambassador to the United States Shankar Sharma: “Even if the prime minister just succeeds in conveying the message that Nepal’s economic environment is optimum for foreign investments, that alone will be an accomplishment.” Economics Jayajung Mahat adds that Oli being in Davos could be an important stepping stone to establish global political and economic partnerships, even if it may not have any immediate tangible impact.The Davos conference used to be a platform to advocate for liberal policies and private sector development, but recently has also included issues of social justice, inclusion and sustainable development. Nepal’s newfound stability, improvement in electricity supply, the availability of cheap labour, and location next to the world’s two largest markets could be plus points for investors looking for under-exploited markets.

To Davos with hammer and sickle

<figure><img width="800" height="1132" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101132/636a22d09c7e80680e0417abjpeg.jpg" alt=""/><figcaption>Cartoon: BHANU BHATTARAI</figcaption></figure>There are snide remarks about K P Oli, prime minister and co-chair of the Nepal Communist Party, heading off next week to the World Economic Forum in Davos. What is a communist leader doing in a capitalist winter wonderland?But Chinese President Xi Jiping who is also General Secretary of the Communist Party of China, has attended Davos as well. And just as China is Communist only in name, Nepal’s current state model is half-jokingly called ‘crony Communism’.China will soon be the world’s largest economy, and is stepping in globally to fill the military, geopolitical and economic gap left by American disengagement. Nepal, on the other hand, is struggling with poor governance and economic stagnation despite having a government with vast powers. And while China is a one-party state, Nepal’s united Communists were duly elected in a landslide in 2017.Read also: <a href="https://www.nepalitimes.com/here-now/to-davos-with-hammer-and-sickle/" target="_blank" rel="noopener">To Davos with hammer and sickle</a>, Ramesh KumarOli has said his main agenda in Davos is to send a signal that Nepal has put conflict and instability behind it, and is open for business. The Communist leader of one of Asia’s poorest countries is going to be speaking in panels on ‘South Asian Security’ and on ‘Beyond GDP’, and hobnobbing with the likes of Vietnamese Prime Minister Nguyen Xuân Phúc. While no two countries are the same, and what works in one does not always serve as a model for another, if Oli did only one thing in Davos, it should be to take a few pointers from Vietnam on how it achieved record growth in Foreign Direct Investment (FDI) which hit $30 billion last year.Nepal wants to be a <a href="https://archive.nepalitimes.com/regular-columns/guest-editorial/muddy-road-middle-income,928" target="_blank" rel="noopener">medium-income country</a> in the next decade, and for that it needs foreign capital. Even to achieve the United Nations’ Sustainable Development Goals by 2030, it is estimated that the country needs to spend Rs18 billion a year. But FDI in Nepal has dipped in the past three years to a record low of only Rs35 billion, and represents less than 1% of the GDP. As the <a href="https://www.nepalitimes.com/latest/nepalis-in-tax-havens-swiss-banks-money-laundering/" target="_blank" rel="noopener">ICIJ and CIJ Nepal joint investigation</a> released this week proves: the impunity and lack of transparency have got so bad that even the FDI Nepal receives is largely laundered ill-gotten wealth. The take-home message from the report is that it is not just the government that is dirty, so is the private sector. In many cases they are in cahoots to rob the people. There is nothing his Vietnamese and Chinese comrades can teach Prime Minister Oli in Davos about how to boost investment that he does not already know. It is not for the lack of laws that foreign investors are skittish. Despite the field being wide open in Nepal for investors who want to leverage the country’s  proximity to the world’s two largest markets in India and China, Nepal is better known as a kleptocracy than a democracy. In an interview with this paper the <a href="https://www.nepalitimes.com/here-now/nepal-can-create-a-business-friendly-environment/">South Korean ambassador</a> was diplomatic when he said Nepal needed a better business climate to attract investors.The red tape in repatriating profits takes years, delayed by demands for kickbacks. Foreign contractors involved in large projects like Melamchi or Kathmandu Airport have been harassed by corrupt officials who brazenly ask for their cut. Ride-hailing startups like Tootle are targetted by transport cartels with political protection. Licenses for hydropower projects are hoarded by companies in which bureaucrats are shadow partners. Rules are made and changed overnight just so that foreign companies can be shaken down. In this setting, only investors who are unscrupulous themselves, or contractors whose intent is to never complete a project, will venture into Nepal.Prime Minister Oli has said he will be show-casing Nepal’s impressive achievements of the past decades in improving its human development status, in resolving conflict, promulgating a federal constitution and holding elections to three levels of government. He will be underlining that from the strategic, trade and investment point of view Nepal is ideally located for investors. His underlying message will be: forget that we are a Communist government with a supposedly socialist ideology, <a href="https://www.nepalitimes.com/banner/calendar-of-economic-change/" target="_blank" rel="noopener">your investment will be safe here</a>. With a strong government at the centre, and decision-making that is decentralising under the new federal structure, Oli’s pitch to the global business community will be that the early bird will get the worm.But that is going to be a hard-sell. Investors will have seen the Ease of Doing Business rankings which project an iffy investment climate in Nepal.The government is holding another Investment Summit end-March, but at current levels of extortion, extraction and corruption, and with much better investment contexts in other Asian countries, there is no option but to clean up our own internal act. All the schmoozing in Davos or speechifying at investment summits are not going to help.  <h2>10 years ago this week</h2> The <a href="http://archive.nepalitimes.com/issue/434" target="_blank" rel="noopener">Nepali Times #434</a> edition from ten years ago on 16 January 2008 talked about Prime Minister Pushpa Kamal Dahal jetting off to Finland and Norway to talk about Nordic aid and investment in Nepal. Exactly a decade later, Prime Minister Oli is going to Davos next week to talk about aid and investment and to spread the message that Nepal is open for business. It looks like nothing has changed since we wrote this <a href="http://archive.nepalitimes.com/news.php?id=15568#.XEQKsFUzaUk" target="_blank" rel="noopener">editorial</a> in 2008:‘Prime Minister Pushpa Kamal Dahal is jetting off again, this time to Norway and Finland. We can’t see the purpose of this visit at this time, unless with all the crises at home he wants a break. Whoever has been advising the prime minister of late has given him another bad piece of advice: you don’t leave your country when there is an energy emergency, when the peace process is stuck, there is a breakdown in law and order and a mutiny is brewing within your own party.The ostensible reason for the visit: to inspect hydropower plants just doesn’t hold water.’<a href="http://archive.nepalitimes.com/issue/434"><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221108101132/636a22d29c7e80680e0417acjpeg.jpg" alt="" width="507" height="814"></a>

CRONY COMMUNISM

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.

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