Business
My European Favourites – Emilia-Romagna, Italy

My European Favourites – Emilia-Romagna, Italy
When people think of Italy, the first places that usually come to mind are Rome, Venice, Milan and the region of Tuscany, which includes Florence and Pisa. I would go to any of these places in a heartbeat. I love them all, but a region that many tourists overlook is Emilia-Romagna. The region’s name might not be well known, but its exceptional agricultural, automotive and mechanical sectors are known the world over.
Much of the gastronomy we associate with Italian cuisine has its roots in Emilia-Romagna. The region is famous for Parmigiano Reggiano (Parmesan cheese), Modena balsamic vinegar, Parma ham (prosciutto), and various types of pasta, just to name a few items. If you are a wine lover, Sangiovese and Lambrusco are two of their well-known “vinos” for their unique taste and quality.
If you are a motor sport buff, Ducati motorcycles and luxury car manufacturers Lamborghini, Maserati and Ferrari all have their roots in the area. With this racing heritage, it’s only natural that two major circuits are located in the region. The motorcycle racing Misano World Circuit Marco Simoncelli is located near Misano Adriatico and is named after a local rider who died during a race in Malaysia in 2011. The Autodromo Enzo e Dino Ferrari located in Imola, which has been used for Formula 1 Grand Prix races, is named after Ferrari’s founder and his son. The track is sadly the location where three time World Champion Ayrton Senna of Brazil died in 1994.
It is best to do these tours with Parma as your base in Emilia-Romagna, but I enjoy its capital and largest city, Bologna. The city is Italy’s seventh largest with about 400,000 people, and it is famous for its medieval towers, churches, colonnades and historical city centre. The University of Bologna, which was established in 1088 AD, is the oldest university in the Western world. I love exploring the narrow city centre streets and browsing the food markets and shops with fresh produce, cured meats, fish, breads, pastas and regional products. I’m no chef, but I imagine that it would be sensory overload for any culinary expert. The small restaurants with street front patios make some of the best dishes you will eat in all of Italy. You have to go there.

Bologna’s medieval towers, a colonnade, a street full of restaurants and the Neptune Fountain.
Parmigiano Reggiano
We depart in the morning from our hotel in central Bologna to a family cheese making operation that produces the “king of cheeses,” Parmigiano Reggiano. The just over an hour drive brings us to a farm and factory near the town of Parma. They are members of the consortium that designates and controls authentic Parmigiano Reggiano production. Under law, the designation Parmigiano Reggiano is protected as a PDO (Protected Designations of Origin) and can be used only by certified producers from this area, so consumers know they have the real deal.
Around 1000 AD, monks reclaimed the marshy lands in the Po valley. The fertile land was plowed and worked by the monks using cows. With numerous cows, the monks had to invent a method to preserve the large quantities of high-quality milk they produced into a product that could be stored and used over time. The monks eventually developed a technique to produce a distinctive cheese in large boilers. The large round Parmigiano Reggiano is still made the same way today.
The Minardi family own and operate the Borgo del Gazzano farm factory that we are visiting. As an organic farm, they pay close attention to the entire local supply chain process to ensure the highest quality of ingredients. We arrive as they are reaching their final steps of the boiler process that was perfected by the monks long ago. Two men collect the curd from the boiler using muslin cloth and place it in large round molds. The cheese is left to set for a day or two then the mold will be removed to add a plastic wrap that has the imprint of the famous Parmigiano Reggiano stamp along with the date and the producer’s number. The mold is then reattached over the plastic wrap and tightened. The imprint from the wrap will solidify as a permanent mark on the rind over the next day. The wrap and mold are then removed and the cheese is placed in a rectangular vessel filled with a brine mixture for 20-25 days so that the cheese can absorb salt.

Production boilers, collecting the curd, the cheese freshly set in a mold and the brine bath.
Finally, the cheese is placed on a shelf in the warehouse to age for 12 months. Prepare to be astounded to see row after row of these shelves that are over 20 cheeses high and at least 80 cheeses long per side. It feels like a library made of cheese! Do you hear a mechanical sound coming from the next aisle? It is a machine working its way up, down and across the shelves. Its job is to grab one heavy cheese off the shelf at a time, spin it around so it can brush off the excess bits, flip the cheese, then place it safely back on the shelf, before automatically moving on to the next one. I guess now we know where they get the parmesan cheese shavings for the cheese shakers we buy at our local grocery store.
We will step outside to the barn area to see the cows and dairy operation before moving to the tasting area and shop. Tasting the celebrated “fromaggio,” with its distinctive texture and sharp flavour, at the very place where it is produced is really something special. This is not to be mistaken with the cheese we often get at home, as outside of Europe, companies can only use the word “Parmesan” to describe their cheese. To get the real deal, you have to make sure that it is clearly sold as, or even better, see it stamped as Parmigiano Reggiano.

Parmigiano shelves, the stamp on the rind, the cleaning machine and me with Alfonso Minardi.
Parma Ham (Prosciutto)
Just 30 minutes from the Borgo del Gazzano is a producer that makes another iconic food. The Lanfranchi family are specialists in the making of a cured meat known the world over as Raw Parma Ham (Prosciutto Crudo di Parma). For 20 years, they have been selecting the finest raw materials and using their traditional methods and expertise to produce the finest and tastiest prosciutto, salamis, pancetta, culatello and coppa di parma. Like the Parmigiano Reggiano cheese producers, the Parma Ham producers are also part of a consortium, and as such, must adhere to high standards and follow precise rules of production.
We will get an introduction of the prosciutto making process. Our tour starts with the trimming of the excess fat and rind of the pork thigh to give the ham its rounded shape and to assist in the salting process. The rind is treated with wet salt while the lean parts are sprinkled with dry salt. During a three week period, the ham is salted twice and placed in walk-in freezers with different temperatures. During this period, it slowly absorbs salt, loses moisture, and loses about 4% of its weight.

Our guide explaining the production process, the ham cellar and the “5 point crown” stamp.
In the next stage, the ham’s residual salt is removed and it is placed in a special room with controlled humidity and temperature for just over two months. While in this room, the salt penetrates even deeper and it is reduced by another 8-10%. We continue into a room with windows that are opened for the ham to dry over the next few months in natural process that will result in another weight loss of 8-10%.
The ham’s final move is to the cellar on the seventh month. In the cellar, important biochemical and enzymatic processes occur. Here it loses another 5% of weight but gains the distinct aroma and taste of the Param Ham.

The finished La Perla Prosciutto, a mixed plate of their products and me with Mr. Lafranchi.
At the end of the curing process, the ham is penetrated by a horse bone needle by experts who can verify its quality with a trained sense of smell. Finally, after a twelve month journey, the ham is inspected by the Parma Quality Institute and branded with the “5 pointed crown” as a guarantee to the consumer that the product is of the highest quality.
The tour gives us a great appreciation for the care that goes into making these products, and underscores why they are highly sought after. We move to the La Perla tasting room where we can try some of the local wines while enjoying lunch, which of course, includes pasta, cured meats, prosciutto, Parmesan cheese, bread and a dessert. It is always tough to get a group to leave because the Lafranchi family are great hosts who love to meet people from around the world. But we must leave, as one hour away, is a mecca for car enthusiasts.

The red arch at the Ferrari Museum entrance, the Ferrari 330 P3 and the AF Corse # 51.
Ferrari Museum
As we arrive at Maranello, we are greeted by a traffic circle that has a familiar silver prancing horse in the middle. This is undeniably, the home of Ferrari. Founded by Enzo Ferrari in 1929 as Scuderia Ferrari, the company sponsored drivers and manufactured race cars before moving into production of street-legal vehicles as Ferrari S.p.A. in 1947.
As we arrive to the Museum, we see a F1 race car in what looks like scaffolding and a welcoming bright red arch. Ferrari is the most successful Formula 1 team in history and has millions of loyal and exuberant fans worldwide. The motorsports cars in the museum are dedicated to the 90 years of Ferrari racing heritage. The cars will take your breath away.

The “Prancing Horse” logo, a 1950’s vintage race car and a classic Ferrari.
My favourite area of the museum is the Michael Schumacher exhibition dedicated to his 11 years of racing with Ferrari. The room has some of his F1 race cars on display in an awe-inspiring semi-circle with a video wall in the background playing highlights of his career. On the other side of the room is a lower wall dedicated to Ferarri champion drivers and an upper wall full of shiny trophies.

A few F1 cars from the Michael Schumacher exhibition, Ferrari champions and the trophies.
In addition to the racing automobiles, the museum also displays its most famous street cars through history, including the iconic Ferrari Testarossa. The Ferrari shop is full of items with the iconic item emblazoned on them, but like the high performance cars, they are pricey.

A Ferrari Portofino, a LaFerrari Aperta, and the Ferrari 5999 HY-KERS test “MULOTIPO.”
With your adrenalin pumping from being surrounded by automotive power, you will be ready to try a couple of unique experiences. If you are mechanically inclined, you will love the Pit Stop Experience, where they time you as you make a front tire change on a Formula 1 car. Those that “feel the need for speed” will drool at the sight of the unbelievable Scuderia Ferrari F1 simulators. After you climb into the pilot’s cockpit, you are given a brief explanation of how to use the paddles behind the steering wheel and the gear box. They can set up the simulator for regular driver or in a more advanced mode for “professionals.” You even get to choose one of the famous F1 tracks for your race experience. The simulator lets you feel the track surface including rubbing strips feel the breaking and throttle forces.
If you are interested, you can combine the museum ticket with a tour of the Ferrari track and factory. For the duration of the tour, you must remain on the company’s shuttle buses and no photos or video are allowed. The factory entrance has been kept the same as it was in 1947 and the track is where all of Ferrari’s competition and road cars have been tested since 1972.
Those that want to get behind the wheel can go to the nearby Autodromo di Modena race circuit and drive a Ferrari for 15 minutes or longer. The experience includes track information and safety protocols from a professional driver.

The tire changing Ferrari Pit Stop Experience and the Formula 1 racing simulators.
Balsamic Vinegar
After the heart racing Ferrari experience, we make a short early evening drive to a Balsamic Vinegar producer or “Acetaia” that was founded in the 1800s. The Paltrinieri Acetaia, established in 1845, maintains the family tradition and replenishes over 1000 barrels of balsamic using the experience handed down generation after generation. Adhering to the strict regulations and using local ingredients from the Trebiano and Lambrusco vineyards, Guido Paltrinieri guides the production of the vinegar must.
The company harvests 160,000 kilograms of grapes on their 25 acre farm, which produces 15,000 litres of balsamic vinegar. We will visit the warehouse attic to see the medium sized barrels made from durmast, chestnut, mulberry, cherry, acacia, ash and precious juniper wood.
The flavour garnered from the barrels, along with the aging process, result in the unique scent and flavour of the balsamic. In the tasting room, we try a range of balsamic they produce, and it is amazing how varied the taste can be in terms of the sweet and sour tones. They also vary in density. The denser the vinegar, the more of a syrupy texture it has. Mind you, this is not the balsamic you find at your local grocery store. A high quality Modena balsamic in a 100 ml bottle, and aged up to 25 years, can cost hundreds of dollars. The company also produces balsamic based products like Balsamotto, Acet-Up, Dulcia and Saba which are great for use in cooking or as a condiment, including on ice cream!

The Acetaia’s barrel sign, processing equipment, barrels of balsamic and the tasting room.
One of my favourite meals in Italy is at the Acetaia Paltrinieri restaurant. After our balsamic tasting and tour, we head across the courtyard to the rustic farm house restaurant. Just before we arrive to the restaurant doors, we are greeted with a glass of Pignoletto sparkling wine and crumbled Parmigiano Reggiano drizzled with DOP Modena Balsamic Vinegar. The balsamic and the cheese go so well together.

The Acetaia’s courtyard, restaurant entrance, Parmigiano with balsamic and their products.
Once inside, we are greeted with bottles of Lambrusco wine on the table, which everyone is quick to spot and partake in. Soon, a plate of a local flatbread called “tigelle” similar to an English muffin, and served warm, arrives with a spread. They are so good!
I have had two different first courses, and I’m not sure which I love more. One is a creamy risotto made with “riserva” balsamic vinegar, and the other is a pasta called Strozzapreti or “choke the priest” pasta. The name always makes me laugh, but the pasta, which also contains balsamic, is absolutely fantastic.
The second course is a meat course which is served with vegetables or salad. During my previous visits, I’ve enjoyed stuffed roast pig, chicken with ham or Balsamotto roast beef, with each dish including balsamic as an ingredient. Even my ice cream dessert contains balsamic. After a glass of a special local walnut liqueur called “nocino” or a nice espresso, we are on our way back to Bologna. It will be a late return to our hotel in Bologna but I’m sure we will venture out to find a nice place in the historic city centre to have a glass of wine and to talk about our amazing day in Emilia-Romagna.
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Business
DOGE discovered $330M in Small Business loans awarded to children under 11

MxM News
Quick Hit:
In a bombshell revelation at a White House cabinet meeting, Elon Musk announced that the Department of Government Efficiency (DOGE) had uncovered over $330 million in Small Business Administration (SBA) loans issued to children under the age of 11.
Key Details:
- Elon Musk stated that DOGE found $330 million in SBA loans given to individuals under the age of 11.
- The youngest recipient was reportedly just nine months old, receiving a $100,000 loan.
- SBA has now paused the direct loan process for individuals under 18 and over 120 years old.
Diving Deeper:
At a cabinet meeting held Monday at the White House, President Donald Trump and Elon Musk detailed a staggering example of federal waste uncovered by the newly-formed Department of Government Efficiency. Speaking directly to ongoing efforts to eliminate corruption and abuse in federal agencies, Musk explained that the SBA had awarded hundreds of millions in loans to children—some of whom were still in diapers.
“A case of fraud was with the Small Business Administration, where they were handing out loans — $330 million worth of loans to people under the age of 11,” Musk said. “I think the youngest, Kelly, was a nine-month year old who got a $100,000 loan. That’s a very precocious baby we’re talking about here.”
DOGE’s findings forced the SBA to abruptly change its loan procedures. In a post on X, the department revealed it would now require applicants to include their date of birth and was halting direct loans to those under 18 and above 120 years old. Musk commented sarcastically: “No more loans to babies or people too old to be alive.”
The discovery was just the latest in a series of contract cancellations and fraud crackdowns led by DOGE. According to Breitbart News, DOGE recently canceled 105 contracts totaling $935 million in potential taxpayer liabilities. The agency’s website currently lists over 6,600 terminated contracts, accounting for $20 billion in savings.
The president praised Musk and DOGE for rooting out government inefficiencies, noting his administration was focused on “cutting” people and programs that were not working or delivering results. “We’re not going to let people collect paychecks or taxpayer funds without doing their jobs,” Trump said.
Also during the cabinet session, USDA Secretary Brooke Rollins revealed her department had eliminated a $300,000 program aimed at teaching “food justice” to transgender and queer farmers in San Francisco. “I’m not even sure what that means,” Rollins said, “but apparently the last administration wanted to put our taxpayer dollars towards that.”
These revelations highlight what many conservatives have long suspected—that during prior administrations, including under President Joe Biden, massive amounts of federal funding were funneled into unserious, ideologically-driven projects and mismanaged government programs. Under the Trump administration’s second term, DOGE appears to be living up to its mission: trimming fat, exposing fraud, and putting American taxpayers first.
Business
Why a domestic economy upgrade trumps diversification

From the Macdonald Laurier Institute
By Stephan Nagy for Inside Policy
The path to Canadian prosperity lies not in economic decoupling from the US but in strategic modernization within the North American context.
President Donald Trump’s ongoing tariff threats against Canadian exports has sent shockwaves through Ottawa’s political establishment. As businesses from Windsor to Vancouver brace for potential economic fallout, a fundamental question has emerged: Should Canada diversify away from its overwhelming economic dependence on the United States, or should it instead use this moment to modernize and upgrade its economic hard and software within the North American context? The evidence overwhelmingly supports the latter approach in which Canada reduces interprovincial trade barriers and regulations, builds infrastructure to move energy and other resources within Canada, and invests in Canadian human capital and relationships with the US to maximize synergies, stakeholder buy-in and mutual benefit.
The knee-jerk reaction to blame Trump’s economic nationalism misses a crucial point: America’s retreat from championing global free trade began well before his unorthodox political ascendance in 2016. The Obama administration’s signature Trans-Pacific Partnership (TPP) faced mounting bipartisan skepticism before Trump withdrew from it in 2017. Hillary Clinton, during her presidential campaign, explicitly stated she would oppose the deal, reversing her earlier support. “I will stop any trade deal that kills jobs or holds down wages, including the Trans-Pacific Partnership,” Clinton declared during a campaign speech in Michigan in August 2016.
When President Joe Biden took office, rather than resurrect the TPP, his administration proposed the Indo-Pacific Economic Framework (IPEF). Unlike traditional trade agreements, the IPEF conspicuously omitted market access provisions while emphasizing supply chain resilience and environmental standards. During the IPEF ministerial meeting in Los Angeles in September 2022, U.S. Trade Representative Katherine Tai specifically noted that the framework “moves beyond the traditional model” of free trade agreements.
These policy evolutions reflect a deeper transformation in American economic thinking: a bipartisan consensus has emerged around industrial policy aimed at rebuilding domestic manufacturing, securing critical supply chains, and maintaining technological leadership against authoritarian competitors such as China.
Prime Minister Justin Trudeau and his Cabinet fundamentally misunderstood these shifts, leading to a series of diplomatic missteps that have damaged Canada-US relations. Most damaging has been a pattern of public rhetoric dismissive of both Trump personally and his MAGA supporters more broadly.
In June 2018, following the G7 summit in Charlevoix, Quebec, Trudeau declared in a press conference that Canada “will not be pushed around” by the United States, characterizing Trump’s tariffs as “insulting.” This prompted Trump to withdraw his endorsement of the summit’s joint statement and label Trudeau as “very dishonest and weak” on Twitter.
Former Deputy Prime Minister Chrystia Freeland repeatedly aligned the MAGA movement with authoritarianism. In an August 2022 speech at the Brookings Institution, she characterized Trump supporters as part of a global “anti-democratic movement.” In October 2023, she went further, drawing parallels between MAGA and authoritarian regimes like Russia and China. These statements resonate poorly with nearly half of American voters who supported Trump in recent elections and are borderline disinformation with such exaggerated mischaracterizations of American voters.
Former Foreign Affairs Minister François-Philippe Champagne was caught on camera in December 2022 referring to Trump’s policies as “deranged” while speaking with European counterparts. The video, which social media users circulated widely, further inflamed tensions between the administrations.
Such diplomatic indiscretions might be dismissed as political theatre if they didn’t coincide with concrete policy failures. The Trudeau government neglected critical infrastructure projects that would have strengthened North American economic integration while reducing Canada’s vulnerability to U.S. policy shifts.
To illustrate, Japan and Germany approached Canada to secure liquefied natural gas (LNG) exports as part of their efforts to reduce reliance on Russian energy supplies. Japan expressed high expectations for Canadian LNG during Prime Minister Fumio Kishida’s visit, while Germany explored LNG opportunities during Chancellor Olaf Scholz’s visit, emphasizing the urgency of diversifying energy sources due to geopolitical tensions. However, Trudeau rejected these requests, citing a weak business case for LNG exports from Canada’s East Coast due to logistical challenges and lack of infrastructure. Instead, Trudeau shifted focus to clean energy initiatives and critical minerals, reflecting Canada’s evolving industrial policy priorities.
The economic relationship between Canada and the US represents perhaps the most thoroughly integrated bilateral commercial partnership in the world. The statistics alone tell a compelling story: daily two-way trade exceeds $3 billion, supporting approximately 2.7 million Canadian jobs – roughly one-in-six workers in the country.
This integration manifests in countless ways across industries.
For example, in automotive manufacturing, a single vehicle assembled in Ontario typically crosses the Canada-US border seven times during production. A Honda Civic assembled in Alliston, Ontario, contains components from both countries, with engines from Ohio and transmissions from Georgia integrated with Canadian-made bodies and electronics.
The energy infrastructure between the two nations functions essentially as a single system. The North American power grid delivers Canadian hydroelectricity to major US markets, while Canadian refineries process crude oil from both countries. TransCanada’s natural gas pipeline network serves both markets seamlessly, with approximately 3.2 trillion cubic feet flowing between the countries annually.
In aerospace, Bombardier’s commercial aircraft division collaborates with American suppliers like Pratt & Whitney and Collins Aerospace, creating integrated supply chains that span the border. Montreal’s aerospace cluster works in close coordination with counterparts in Seattle and Wichita.
Beyond traditional industries, American-Canadian technological collaboration has accelerated in recent years. For example, the Vector Institute in Toronto has established formal research partnerships with MIT’s Computer Science and Artificial Intelligence Laboratory, collaborating on foundational AI research. Their joint papers on neural network optimization have been cited more than 3,000 times since 2020.
Quantum computing initiatives at the University of Waterloo’s Institute for Quantum Computing maintain ongoing research exchanges with Google’s quantum computing team in Santa Barbara, California. Their shared work on quantum error correction protocols has advanced the field significantly.
In clean technology, Hydro-Québec’s energy storage division and Massachusetts-based Form Energy announced in 2023 a $240 million joint venture developing grid-scale iron-air batteries to enable renewable energy deployment across North America.
The SCALE.AI supercluster, headquartered in Montreal, includes American tech giants like Microsoft, Amazon, and IBM collaborating with Canadian start-ups on supply chain optimization technologies.
Against this backdrop of deep integration, calls for Canada to diversify away from the US toward markets like China reflect wishful thinking rather than economic reality. Dezan Shira & Associates in its China Briefing advocated expanding commercial ties with Beijing despite China’s documented history of economic coercion toward Canada.
This recommendation ignores the painful lessons of recent history. The arbitrary detention of Michael Kovrig and Michael Spavor for over 1,000 days in Chinese prisons, the imposition of punitive restrictions on Canadian agricultural exports following the arrest of Huawei executive Meng Wanzhou, and documented interference in Canadian domestic politics all demonstrate the risks of economic dependence on China.
The CD Howe Institute’s March 2025 analysis cites the overwhelming preponderance of trade flows: 76 per cent of Canadian exports go to the United States, compared to just 3.7 per cent to China, 2.4 per cent to the UK, and 2.32 per cent to Japan. As the report notes, “Given geographic proximity, linguistic compatibility, and complementary regulatory frameworks, any significant trade diversification away from the United States would require decades of sustained effort and acceptance of considerably higher transaction costs.”
Rather than pursuing illusory diversification, Canada should focus on strategic economic modernization that positions it as an indispensable partner in America’s industrial revitalization.
First, Canada must dismantle internal trade barriers that fragment its domestic market. The Canadian Federation of Independent Business estimates these interprovincial trade barriers cost the economy $130 billion annually – nearly 7 per cent of GDP. Harmonizing regulations and procurement practices would create a more efficient national market better positioned to integrate with the US economy.
Second, Canada should leverage its critical mineral resources – including lithium, cobalt, and rare earth elements – as strategic assets for North American supply chain security. The Minerals Security Partnership launched in 2022 provides a framework for such co-operation, but Canada has yet to fully capitalize on its geological advantages.
Third, Ottawa should accelerate east-west energy infrastructure development to enhance continental energy security. The proposed Energy East pipeline, which would have transported Western Canadian crude to Eastern refineries, fell victim to regulatory hurdles in 2017. Reviving such projects would reduce Eastern Canada’s dependence on imported oil while creating more resilient North American energy networks.
Finally, Canada should position itself as a key contributor to emerging technology initiatives. Trump’s proposed $500 billion AI infrastructure investment represents an opportunity for Canadian AI researchers and companies to integrate more deeply into US innovation ecosystems.
The path to Canadian prosperity lies not in economic decoupling from the US but in strategic modernization within the North American context. The integrated nature of the two economies – built over generations through geographic proximity, shared values, and complementary capabilities – represents a competitive advantage too valuable to abandon.
As American industrial policy evolves to address 21st-century challenges, Canada faces a choice: it can either adapt its economic framework to remain an essential partner in this transformation or risk marginalization through misguided diversification efforts. The evidence overwhelmingly supports the former approach.
For Canada, the answer is smarter, not less, North American integration.
Dr. Stephen Nagy is as a professor at the International Christian University, Tokyo and a senior fellow at the Macdonald-Laurier Institute. Concurrently, he is a visiting fellow with the Japan Institute for International Affairs (JIIA). He serves as the director of policy studies for the Yokosuka Council of Asia Pacific Studies (YCAPS), spearheading their Indo-Pacific Policy Dialogue series. He is currently working on middle-power approaches to great-power competition in the Indo-Pacific.
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