America's Immigration Crackdown and Global Remittance Market
America's immigration crackdown may have severe financial consequences for various countries.
The Trump administration's decision to shut down USAID and reduce international aid and development spending has raised concerns among development advocates, who fear it will harm the economies of developing nations and have devastating consequences for the poorest people worldwide.
“the anti-immigration actions of the Trump administration are likely to have an even bigger negative effect on the economic development of the world’s poor countries”
According to Dean Yang, an economist at the University of Michigan, migration is a key mechanism for lifting people out of poverty, and the current situation may have a significant impact on the global remittance market.
- Immigration crackdown affects global remittance market
- Consequences for developing nations and poorest people
- Migration as a mechanism to lift people out of poverty
Author's summary: Immigration crackdown hurts global economies.