Saturday, July 7, 2018

Immigration


Most immigrants come here for economic reasons like the famine in Ireland, wars and food shortage in China especially during Mao's era. The majority of Hong Kong population was formed by illegal refugees from mainland China and so is US.

With comparatively booming economy, huge natural resources per capita and small population per square mile, US is the heaven. We need cheap labor and more professionals.

The other reasons are political oppression, freedom, better opportunities, etc. My reason is lack of good colleges in my homeland Hong Kong at the time.

Today many rich Chinese want to migrate to the US for better opportunities for their children. US had missed the opportunities to attract them when Hong Kong was taken over in 1997. The current investment requirement is a good vehicle rather than attracting financial refugees who burden our welfare system. 

Some Chinese are escaping from potential prosecution of the crimes in corruption - there are better countries for this purpose.

In the last century or two, Chinese came here to build the railroad and/or mine gold. Some were cheated to come to work in the slavery conditions. The tougher parts of the railway connecting the two coasts of US and Canada were done by them and their efforts were not recognized.  In the old days, Chinese migrated to South East Asia. Their hard working pays off for themselves and the adopted countries.

It is easy choice for Indians as no one in the right mind wants to wait for India to fix their basic infrastructure. So are the Mexicans.

In simple words, they migrate for better living conditions and opportunities. Most do not want to leave in the places they grow up and the friends and families.

The adopted countries should benefit from immigration if handled correctly by filling jobs their citizens do not want or not qualified.
Rich immigrants also bring money to invest in the local economy. However, some immigrants become permanent welfare recipients, criminals and/or terrorists. Japan does not welcome immigrants and they do not have terrorist attacks from immigrants.

Wealthy Chinese drive up the price of the housing market in Vancouver and other cities that welcome them. It is good for the current house owners but bad to those who start out as they cannot possibly afford the appreciated houses.

It is another example in my Coconut Theory: Folks without coconuts move to places with coconuts. I'm no economist, but how many economists even the Nobel-prize winners make money in the stock market?

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