FALCON POWERS – US President Joe Biden said on Wednesday that “foreign phobia” from countries like China, Japan, and India hampers their growth, while emphasizing that immigration benefits the US economy.
Speaking at a fundraising event in Washington that included Americans of Asian descent and others, he stated, “One of the reasons our economy grows is because of you and many others. Why? Because we welcome immigrants.” He added, “Why is China struggling so much economically? Why is Japan facing problems? Why Russia? Why India? It’s because they fear foreigners. They don’t want immigrants. Immigrants make us stronger.”
The International Monetary Fund (IMF) predicted last month that these countries would experience a slowdown in their annual growth in 2024, ranging from 0.9% in advanced economy Japan to 6.8% in emerging economy India.
They forecasted that the US economy would grow by 2.7%, slightly higher than last year’s rate of 2.5%. Many economists attribute the better-than-expected performance to factors including immigrants who support the country’s workforce.
Concerns about illegal immigration have become a major issue for many American voters ahead of the upcoming presidential elections scheduled for November.
