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Asian Stocks Eye Gains as Wall Street Awaits Data: Markets Wrap2025 Kia EV6 GT gets Hyundai Ioniq 5 N power, fake gear shifts - UPDATEAfter 25 years of negotiations, the EU and the South American trade bloc, Mercosur, finally reached an agreement this December. The promise? A trade boom, cheaper food for Europeans and cheaper cars for Latin American consumers. But there is a roadblock in the way of the agreement’s ratification: France. Vocally backed by Poland, Paris has positioned itself as a defender of EU farmers and a zealous environmentalist – at the expense of everyone else involved. Mercosur – a trade union established in 1991 by Argentina, Brazil, Paraguay, and Uruguay, and later joined by Bolivia – has been pursuing a deal with the EU that would create one of the world’s largest free trade zones with a market of over 700 million people. The agreement would remove tariffs: Europeans would get cheaper beef, soy, poultry, fruits, and other products from South America, while EU companies would benefit from lower costs for sales of cars, machinery, and chemicals to the South American bloc members. In order to protect EU farmers from getting pushed out of their own markets by foreigners, the parties have negotiated certain limits on how much beef, chicken and soy can flow freely into the EU. The agreement also includes rules to follow the Paris Climate Agreement on reducing emissions, and to tackle deforestation in the Amazon rainforest. European Commission President Ursula von der Leyen has been very enthusiastic about the agreement. Her excitement comes against the backdrop of US President-elect Donald Trump’s promises to seemingly launch a new global trade war by imposing massive tariffs on various countries – potentially including Mercosur’s founding member, Brazil. “ We are sending a clear and powerful message,” von der Leyen told a joint press conference. “ In an increasingly confrontational world, we demonstrate that democracies can rely on each other. This agreement is not just an economic opportunity. It is a political necessity.” Aside from poking Trump, the political necessity could also be explained by the EU’s hopes for easier access to critical minerals available in the ground in Mercosur countries, which would stall China’s increasing influence in this sector. Von der Leyen happily sealed the deal with Mercosur on December 6, much to France’s dismay, and to her native Germany’s joy. Paris has vocally condemned the deal, warning that a flood of cheap beef and poultry from South America will devastate its farmers and pointing out that it allegedly doesn’t meet EU standards. Berlin, on the other hand, can’t wait to use the opportunity to boost sales in new markets. For the agreement to come into force, it needs to be ratified by all 27 EU members. France’s opposition prevents that from happening – and it has found an ally in Poland. Both countries are hoping that Italy will join their fight and create a blocking minority with them. France is the largest agricultural producer in the EU. Its farms produce key exports like wine, dairy, and beef, which are all staples of French culture and commerce. Therefore, these farmers hold significant political influence. Historically, they’ve been capable of bringing the country to a standstill through protests, roadblocks and strikes – a variety of tools they’ve used successfully to pressure the government. Rising rural discontent in the country has provided fuel for President Emmanuel Macron’s political rivals. Marine Le Pen, leader of the right-wing National Rally, has consistently positioned herself as a hardline defender of French farmers. She even showed up on a tractor during one of their protests at the beginning of this year. She advocates for protectionism and portrays the EU as detrimental to the nation’s agriculture. Initially, Macron tried to emphasize the benefits of European integration for the farmers. But as Le Pen’s movement gained traction among rural voters by criticizing EU regulations, the president started introducing adjustments to his rhetoric. In 2021, the French government presented exemptions allowing sugar beet farmers to use neonicotinoid pesticides, which are banned at the EU level due to their harmful effects on bees. During farmers’ protests in early 2024, Macron acknowledged the challenges posed by EU regulations, mentioning, however, that “blaming everything on Europe” would be “too easy.” Lastly, the French president has led the opposition against the Mercosur trade agreement, citing farmers’ grievances. Marine Le Pen’s National Rally had a startling victory in the European election this summer, primarily due to rural sympathies. The current political dynamics in France, marked by the recent government collapse and stalled agricultural legislation, have intensified the rivalry between her and the president. As farmers’ frustrations grow, both leaders are hoping to grasp their support, with Le Pen using the situation to challenge Macron’s leadership. The National Rally leader has consistently opposed the Mercosur deal as well – to no surprise, as it falls in line with her general protectionist stance and broader criticism of EU practices. While for Le Pen this rhetoric is consistent, Macron seemingly chose this particular issue to challenge the EU in the way that could get him most political gains from his rival’s usual electorate. Both politicians have cited the French farmers’ concerns that allowing cheaper Mercosur goods to enter the market would devastate them: “ Integrating Mercosur will drive prices down further and push consumers to buy even cheaper. We, sustainable farmers, must work three times harder to maintain our margins by processing and selling locally,” André Trives, a Slow Food farmer in southern France, has said . The Irish government has estimated that the beef imported from Mercosur under the new trade deal will mainly consist of high-quality cuts, like premium steaks, which are sold at higher prices in Europe. Because of this, prices for these high-end beef cuts could drop by 3.3% to 7.2% as South American imports create more competition in the market. Essentially, consumers would pay less for meat. While the French are world-famous protesters, consumers rarely organize and protest as effectively as farmers. The blame for the price hikes is often dispersed across a variety of issues – inflation, geopolitics and such. Farmers, on the other hand, are politically united, which makes them far harder to ignore. The same applies to Poland. The presumed beef price drop may not be as overwhelming as it seems. In order to protect European farmers, the EU has limited Mercosur beef imports to 99,000 metric tons – split into 55% fresh beef and 45% frozen beef – with a 7.5% tariff. This quota is just over 1% of Europe’s annual 8 million metric tons of beef consumption, amounting to 221 grams per EU citizen – about one steak per year. Any imports beyond this quota face higher EU tariffs , keeping the impact on the market minimal. Brazil even complained about the EU only “half-opening” the doors to its market. That said, Macron’s opposition to the Mercosur deal may play well in the streets of rural Normandy, but not throughout the EU. Apart from the farmer problem, the French resistance is largely based on Mercosur’s green record – deforestation in the Amazon and the use of pesticides which are prohibited in the EU. President Emmanuel Macron has labeled the current agreement as “unacceptable,” emphasizing that it does not sufficiently address environmental standards. French Agriculture Minister Annie Genevard has also spoken out against the trade agreement, citing health concerns linked to hormone-treated meat. In an interview with TF1, she said: “We don ’ t want this agreement because it ’ s harmful. It will bring in products, including substances banned in Europe, at the cost of deforestation. It will unfairly compete with our domestic production.” The rainforest could allegedly be threatened by the significant expansion of cattle farming under the new agreement. Yet Brazil alone produces 11 million tons of beef annually, so the agreed quota of 99,000 tons, shared among the Mercosur countries, will not result in an overwhelming increase in beef production. On top of that, Brazilian President Luiz Inácio Lula da Silva has pledged to eliminate illegal deforestation by 2030, aligning with EU demands. with regard to pesticides, the Mercosur bloc will have to follow European regulations – if the food meets EU standards, it will enter the market. If not, then not. But the French have refused to believe it. France’s Carrefour, one of the world’s largest supermarket chains with stores in over 30 countries, including Brazil and Argentina, has recently sparked controversy. Its CEO, Alexandre Bompard, said that “in solidarity with the ag world, Carrefour is committed to not selling any meat from Mercosur” due to the “risk of overflowing the French market with meat production that does not meet requirements and standards.” Brazil’s Animal Protein Association (ABPA) was quick to fire back, calling the statement “clearly protectionist” and insisting Mercosur produces “high-quality products that meet all the criteria established by health authorities.” Bompard later retracted his comments, even praising Brazilian producers. Macron’s environmental stance regarding the issue seemingly falls apart as well – especially given that France’s carbon footprint isn’t innocent either, with emissions from livestock farming and agriculture among the EU’s highest. Macron’s opposition to the Mercosur agreement comes at a price: while the French farmers enjoy support on the issue from the two main sides of the French political spectrum, both EU businesses and Latin American consumers are losing out. The deal could save €4 billion annually for European exporters following the tariff cuts on cars, machinery, chemicals and wine. Right now, EU businesses are facing tariffs as high as 35% on cars and 18% on machinery when selling to countries like Brazil or Argentina. Companies like Volkswagen, Renault, and BMW have to absorb these costs or pass them on to consumers. The high prices obviously make the South American market less appealing for European producers. While EU companies are sidelined, global competitors like China are expanding their trade relationships with the market of hundreds of million people in Latin America, facing fewer trade barriers and supplying affordable cars and electronics. Without the deal, European businesses are missing out on the desires of emerging middle-class consumers in Brazil, Argentina, and Uruguay who want European cars, luxury products, and technology. Latin American consumers face inflated prices for those European goods. A new car in Brazil is far more expensive than in Europe because of the tariffs on top of logistics. A Volkswagen or Renault vehicle in Brazil can cost 30-40% more than it does in Europe. Pharmaceuticals also face tariffs of 14% or more. European designer products remain far more expensive, even if we’re talking about fast fashion companies. The French resistance is keeping European cars, technology, medicine and other goods from millions of South Americans. China and other competitors are stepping in to fill the void – something that the EU would probably want to avoid geopolitically at all costs. Both sides of the Atlantic are paying the price for Macron’s domestic political gamble. If Paris and Warsaw succeed in dragging Rome into forming the blocking minority for the Mercosur deal, they could potentially help Beijing increase its economic grasp on the globe.
SAN DIEGO (AP) — Mark Few liked what he saw unfold at San Diego State's Viejas Arena when his No. 3 Gonzaga Bulldogs made their first foray outside of Spokane, Washington, this season. A double-digit victory in a packed, loud arena. Toughness from a deep, experienced lineup that once again is driven to win an elusive national championship. And, peeking a few seasons ahead, he saw an SDSU team that he views more as a future Pac-12 partner than rival. Javascript is required for you to be able to read premium content. Please enable it in your browser settings. Get the latest sports news delivered right to your inbox six days a week.
UTAH TECH 68, DENVER 54British Columbia Premier David Eby said Canada must approach Donald Trump's plan to impose a 25 per cent U.S. tariff on Canadian goods from a position of strength, as business, trade and community organizations called for quick action on the trade threat. Eby said premiers and Prime Minister Justin Trudeau would meet this week to discuss "our strategic approach" to the U.S. president-elect's plan to impose the tariff on Canadian and Mexican imports immediately after his inauguration on Jan. 20, unless action was taken to stem the cross-border flow of migrants and illegal drugs. The B.C. premier made the comments Tuesday in a speech to the annual convention of the B.C. Federation of Labour in Vancouver. "Obviously, this will be devastating to workers on both sides of the border," he said. "Both in the U.S. and in Canada, the impact on families will be profoundly significant." Canada and the U.S. have long been top trading partners, on imports as well as exports, and the strength of this relationship put Canada in a solid position when it came to Trump's tariff threat, Eby said. "We have more in common with Americans than what separates us," he said. "We buy more American stuff than France, than China and Japan and the United Kingdom combined. So, we are negotiating, I believe, from a position of strength." Eby called for a united Canadian approach to the proposed U.S. tariff. "We're going to stand together and we're going to ensure we negotiate from a position of strength and that we negotiate hard and ensure any decisions that are made are in the best interests of British Columbians and Canadians," he said. Eby acknowledged improvements could be made on Canada's border, especially when it came to policing contraband and illegal drugs. "We've called repeatedly, for example, for port police to ensure what comes into B.C. is not contraband, is not illicit drugs or precursor chemicals," he said. "These are things that we can do to make life better here in B.C., as well as respond to concerns that have been raised south of the border." Trump issued a statement on social media on Monday saying Canada and Mexico had the power to solve their border issues, which he called a "long simmering problem." Opposition B.C. Conservative Leader John Rustad called for the immediate recall of the B.C. legislature Tuesday to provide funding to secure borders to stop the flow of illegal drugs and migrants. Business organizations in B.C. called on the provincial and federal government to immediately address Trump's tariff plan, which they said would will hurt businesses. The proposal would have significant consequences for B.C. businesses of all sizes and would harm communities and workers across the province, said Fiona Famulak, B.C. Chamber of Commerce president and chief executive officer. “Ottawa must take this news seriously and work proactively with representatives of the incoming U.S. administration immediately to address the issue before the tariffs are implemented," she said in a statement. "We cannot afford to wait until January to take action." The Metro Vancouver city of Surrey, which has two U.S. border crossings, said in a statement the proposed tariff would have severe implications for the city's business community. Most of B.C.'s manufacturing industry is located in Surrey and the city is also home to many thriving import-export-reliant businesses, which would face increased costs and potential job losses if the U.S. tariff was imposed, said Jasroop Gosal, Surrey Board of Trade spokesman. The B.C. Lumber Trade Council said the proposed tariff would hurt U.S. consumers and homebuyers by driving up the cost of building materials from Canada, while the Greater Vancouver Board of Trade said the U.S. was B.C.’s most important trading partner, accounting for 54 per cent of the province’s commodity exports in 2023. "It is imperative that we engage constructively with our U.S. counterparts to advance our collective interests," said Bridgitte Anderson, board of trade president and CEO. "This should act as a wake-up call to all levels of government that a new Team Canada approach is required," said Anderson. "We saw the reaction in the markets, and we saw the (Canadian) dollar fall. The shock waves were quite significant and we shouldn't underestimate what the impact of this could be." She said some of B.C.’s top exports to the U.S. are natural gas, softwood lumber, agricultural products, and minerals and metals. But some economists and policy analysts warned against falling for familiar Trump negotiation tactics. “He likes nothing more than to see his negotiating partners trembling in fear or running around screaming with their hair on fire," said Carlo Dade, trade and infrastructure director at the Alberta-based Canada West Foundation. "So, we need to react, but we need to do so with prudence, with firmness, with thought and without fear and panic." Prof. Nicolas Schmitt said the tariff proposal was a threat rather than a solid policy decision. “We should not panic about the 25 per cent threat right now," said Schmitt, who teaches economics at Simon Fraser University. "It's a bullying tactic. It's like bullying in the schoolyard." B.C. government data says the province's exports to the U.S. in the first half of 2024 were worth $16.9 billion, down 1.1 per cent compared to the same period last year. The U.S. is by far B.C.'s largest export destination, with mainland China in second place receiving goods worth $4.9 billion in the year to July, up 13.2 per cent. This report by The Canadian Press was first published Nov. 26, 2024. Dirk Meissner and Nono Shen, The Canadian PressAs the high school football season winds down, only the three traditional Thanksgiving morning games remain, along with Bonner & Prendergast, Delaware County’s last team standing in the state playoffs competing in the PIAA Class 4A semifinals Friday. It’s been a memorable season from a local standpoint, one that has seen numerous records shattered, both at the team level and across the county. Before the helmets and shoulder pads are put away until next summer, it’s time for a Daily Times tradition: By The Numbers, our annual look at the season in statistical form. 1 >> Number of wins each for Chichester and Sun Valley. The bright side? Before the turkey’s out of the oven Thursday, one of these teams will have doubled its win total. 3 >> Philadelphia Catholic League teams that have advanced to the PIAA semifinals: Bonner & Prendergast (4A), Roman Catholic (5A) and St. Joseph’s Prep (6A). While the Catholic League has had multiple state champions in the same season – most recently in 2019 with Prep and Archbishop Wood – it has never crowned three champions in one year. 3 >> Single-season team records for Garnet Valley senior Caden Koehler: receptions (52), receiving yards (1,038) and touchdown catches (12). 5 >> Delco teams that achieved double-digit win seasons: Springfield (12), Bonner & Prendergast (10), Chester (10), Haverford High (10) and Strath Haven (10). 5 >> Wins for Upper Darby under second-year coach Darrell Dulany, who has made significant progress with the program. Taking over a team in disarray and coming off a two-win season in his first year, Dulany has the Royals positioned to finish with a winning record ... if they can pull off an upset against Haverford Thursday. 6-5 >> Height of Haverford School senior lineman Josh Williams, a 305-pound Stanford commit who helped the Fords to a 7-3 record and second-place finish in the Inter-Ac League. Williams was the anchor of an offensive line unit that averaged roughly 150 yards on the ground per game. 17 >> Career interceptions for Chester’s Daron Harris. The previous school record of 15, held by Jimmy King, had stood for 40 years. 27 >> Passing touchdowns this season for Chester’s Jalen Harris, who has 86 career touchdown passes, the most by any quarterback in Delco history. His 5,882 career passing yards rank fifth all-time, and he needs 1,707 yards next year to break the county record held by Desman Johnson Jr. of Penn Wood since 2019. 28 >> Touchdowns for Daron Harris this fall, which is another Chester record that belongs to him. Daron had 14 receiving TDs and seven on special teams returns (four kicks and three punts). Daron also had two interception returns for scores. He is, undoubtedly, one of the best all-around players in Delco over the last decade. 30.5 >> Average margin of victory by West Chester Rustin over its two Delco opponents, Chester and Springfield, in the District 1 Class 5A tournament. Can’t say enough about the Golden Knights. They are the real deal, absolutely manhandling two of the top programs in the area, and two wins away from a state title. 66 >> Receptions for Episcopal Academy junior Jackson Orcutt. That is good for seventh all-time in the county. He set single-season program records in catches, receiving yards (1,132) and TD receptions (15). 87 >> Sum total of career passing (43) and rushing (44) touchdowns for Sam Dixon, the awesome playmaker for Delaware County Christian School’s eight-man squad. Dixon spearheaded the Knights’ run to the Keystone State Football League championship game, ending his career with 2,843 passing yards and 2,572 rushing yards. With Dixon showing the way, DC posted an 8-1 record, its best season since 2015, back when the Knights competed in the Bicentennial Athletic Conference as one of the smallest PIAA programs in the area. 92 >> Yards Haverford High junior Liam Taylor needs Thursday to become Delco’s greatest single-season rushing champion. Taylor, who has 2,741 yards, is closing in on the record of 2,832 yards set by Interboro alum and current Yale star Abu Kamara during his Daily Times Player of the Year campaign in 2022. 875 >> Rushing yards for Interboro sophomore Momodu Rogers, who has had an outstanding season despite the Bucs’ 2-8 record, and he accomplished this while missing two games due to injury. Rogers averaged over 100 yards against five tough opponents – Strath Haven, West Chester Rustiin, Plymouth Whitemarsh, Wissahickon and Upper Moreland – all of which finished with at least five wins. He has a chance to hit the 1,000-yard mark Thursday at Ridley. 2,019 >> Passing yards for Garnet Valley quarterback Luke O’Donoghue, setting a single-season team record. Known for their run-heavy offense, the Jaguars’ success through the air this season was fun to watch and O’Donoghue was the driving force behind it. 2,396 >> Passing yards for Bonner & Prendergast sophomore Noel Campbell, who broke the 23-year-old single-season school record during the Friars’ 35-7 victory over Pope John Paul II in the PIAA Class 4A quarterfinals. Campbell’s total ranks seventh in Delco history, 501 yards from breaking the record. 2,785 >> Rushing yards in the career of Strath Haven’s Shane Green, the fourth-highest mark in program history. This year Green amassed 1,447 yards, sixth most by a Haven player, en route to helping the Panthers claim a share of the Central League title. Contact Matt Smith at msmith@delcotimes.com
NoneBritish Columbia Premier David Eby said Canada must approach Donald Trump's plan to impose a 25 per cent U.S. tariff on Canadian goods from a position of strength, as business, trade and community organizations called for quick action on the trade threat. Eby said premiers and Prime Minister Justin Trudeau would meet this week to discuss "our strategic approach" to the U.S. president-elect's plan to impose the tariff on Canadian and Mexican imports immediately after his inauguration on Jan. 20, unless action was taken to stem the cross-border flow of migrants and illegal drugs. The B.C. premier made the comments Tuesday in a speech to the annual convention of the B.C. Federation of Labour in Vancouver. "Obviously, this will be devastating to workers on both sides of the border," he said. "Both in the U.S. and in Canada, the impact on families will be profoundly significant." Canada and the U.S. have long been top trading partners, on imports as well as exports, and the strength of this relationship put Canada in a solid position when it came to Trump's tariff threat, Eby said. "We have more in common with Americans than what separates us," he said. "We buy more American stuff than France, than China and Japan and the United Kingdom combined. So, we are negotiating, I believe, from a position of strength." Eby called for a united Canadian approach to the proposed U.S. tariff. "We're going to stand together and we're going to ensure we negotiate from a position of strength and that we negotiate hard and ensure any decisions that are made are in the best interests of British Columbians and Canadians," he said. Eby acknowledged improvements could be made on Canada's border, especially when it came to policing contraband and illegal drugs. "We've called repeatedly, for example, for port police to ensure what comes into B.C. is not contraband, is not illicit drugs or precursor chemicals," he said. "These are things that we can do to make life better here in B.C., as well as respond to concerns that have been raised south of the border." Trump issued a statement on social media on Monday saying Canada and Mexico had the power to solve their border issues, which he called a "long simmering problem." Opposition B.C. Conservative Leader John Rustad called for the immediate recall of the B.C. legislature Tuesday to provide funding to secure borders to stop the flow of illegal drugs and migrants. Business organizations in B.C. called on the provincial and federal government to immediately address Trump's tariff plan, which they said would will hurt businesses. The proposal would have significant consequences for B.C. businesses of all sizes and would harm communities and workers across the province, said Fiona Famulak, B.C. Chamber of Commerce president and chief executive officer. “Ottawa must take this news seriously and work proactively with representatives of the incoming U.S. administration immediately to address the issue before the tariffs are implemented," she said in a statement. "We cannot afford to wait until January to take action." The Metro Vancouver city of Surrey, which has two U.S. border crossings, said in a statement the proposed tariff would have severe implications for the city's business community. Most of B.C.'s manufacturing industry is located in Surrey and the city is also home to many thriving import-export-reliant businesses, which would face increased costs and potential job losses if the U.S. tariff was imposed, said Jasroop Gosal, Surrey Board of Trade spokesman. The B.C. Lumber Trade Council said the proposed tariff would hurt U.S. consumers and homebuyers by driving up the cost of building materials from Canada, while the Greater Vancouver Board of Trade said the U.S. was B.C.’s most important trading partner, accounting for 54 per cent of the province’s commodity exports in 2023. "It is imperative that we engage constructively with our U.S. counterparts to advance our collective interests," said Bridgitte Anderson, board of trade president and CEO. "This should act as a wake-up call to all levels of government that a new Team Canada approach is required," said Anderson. "We saw the reaction in the markets, and we saw the (Canadian) dollar fall. The shock waves were quite significant and we shouldn't underestimate what the impact of this could be." She said some of B.C.’s top exports to the U.S. are natural gas, softwood lumber, agricultural products, and minerals and metals. But some economists and policy analysts warned against falling for familiar Trump negotiation tactics. “He likes nothing more than to see his negotiating partners trembling in fear or running around screaming with their hair on fire," said Carlo Dade, trade and infrastructure director at the Alberta-based Canada West Foundation. "So, we need to react, but we need to do so with prudence, with firmness, with thought and without fear and panic." Prof. Nicolas Schmitt said the tariff proposal was a threat rather than a solid policy decision. “We should not panic about the 25 per cent threat right now," said Schmitt, who teaches economics at Simon Fraser University. "It's a bullying tactic. It's like bullying in the schoolyard." B.C. government data says the province's exports to the U.S. in the first half of 2024 were worth $16.9 billion, down 1.1 per cent compared to the same period last year. The U.S. is by far B.C.'s largest export destination, with mainland China in second place receiving goods worth $4.9 billion in the year to July, up 13.2 per cent. This report by The Canadian Press was first published Nov. 26, 2024. Dirk Meissner and Nono Shen, The Canadian Press
Google Offers Alternative Remedies To Address DOJ’s Search Distribution Case'Leave India, it's high time' wrote a startup founder in a long post on Reddit. The post which is now deleted asked “high salaried individuals” to leave India and move abroad claiming that India is amazing but not the best for innovation. The post has now been deleted. "Sorry, this post has been removed by the moderators of r/india," reads the message if one clicks on the post. It is not clear why the post was deleted. There are 300-plus replies on the post that are still visible. The entrepreneur goes with the name 'u/anonymous_batm_an' on Reddit. What the now deleted 'Leave India' post said Before the user deleted the post, it had already gone viral. The user on the r/India subreddit, who claims to have studied at a top Indian engineering institute and earned a postgraduate degree in the US, shared his experience of returning to India in 2018 to launch a company. Having secured significant funding, he now employs nearly 30 people with an average salary of ₹15 lakh. Despite this success, his post, titled "Leave India! It's high time! And I am telling this as someone who runs a well funded business!", strongly advocated for emigration, particularly for innovators. He argued that "stupid" regulations stifle innovation in India , requiring connections to bureaucrats, politicians, or celebrities to achieve anything. He cited an example where his company, despite assisting police in solving a fraud case on their app and helping the victim recover their money, was still accused and faced demands for bribes to close the case. The entrepreneur also described experiencing frequent "regional hate" from various service providers. He criticized what he perceived as low work ethics among Indians and claimed that social status is heavily tied to wealth and appearance. He further complained about high taxes coupled with poor public services like roads and hospitals. He recounted an incident in Goa where confronting litterers resulted in them telling him to mind his own business. Alternative countries he suggested He warned of an impending "terrible economic collapse" and rupee depreciation, recommending the UAE or Thailand as alternative destinations for innovators. He sarcastically commented on excessive taxation, even on items like popcorn, as a desperate measure to achieve a 5 trillion dollar economy. "In a nutshell...leave the country where they will even tax your popcorn because they are out of ideas to make it a 5 trillion dollar economy!" he said. The post garnered numerous comments, with some users agreeing with his points. One user, living in Australia, echoed the sentiment of high taxes and poor returns in India, citing issues like bad roads, healthcare, infrastructure, corruption, pollution, and outdated policies. Another user humorously expressed their readiness to leave India alongside the entrepreneur should he decide to close his business.
