Wednesday, 21 January 2009

MIGRATION: Exporting People

NEW YORK: When a nation’s population becomes far larger than its domestic economy can readily accommodate, governments can either do nothing and allow poverty to set in or they can export people. That policy has worked for many countries. In 2008, nearly $300 billion were remitted to developing countries by immigrant labor.

But the global economic crisis which is hitting the developed countries hard might generate a tsunami-like wave of migrants returning home, and falling remittances hitting the developing nations even harder. Read more

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