President Joe Biden has highlighted the importance of immigration to the U.S. economy during a fundraising event for his 2024 re-election campaign. He criticized xenophobia in other countries, particularly China, Japan, Russia, and India, which are experiencing economic challenges due to their anti-immigrant attitudes. In contrast, the U.S. welcomes immigrants as a source of economic strength.
The International Monetary Fund recently forecasted slowing growth rates for these countries in the coming years, with Japan expected to grow by 0.9% and India by 6.8%. In comparison, the United States is forecasted to grow at 2.7%, partly due to the positive impact of immigrants on the labor force. This migration-led growth has been key to the U.S. economy outperforming others and has contributed to its overall economic success.
President Biden has been vocal about condemning anti-immigrant rhetoric, particularly in the context of the upcoming presidential election. He has emphasized the importance of building economic and political relationships with countries like Japan and India to counter global powers such as China and Russia. By advocating for a pro-immigrant stance, Biden hopes to promote economic growth and strengthen ties with key allies.
During his speech, President Biden pointed out that other countries need to adopt a more open policy towards immigrants if they want to achieve sustainable economic growth. He argued that xenophobia is not only harmful to individuals but also hampers economic progress.
Biden also highlighted how immigration has played a significant role in shaping America’s history and identity as a nation of immigrants.
“We have always been a nation of immigrants,” said Biden.”From Ellis Island’s shores we welcomed people from all over the world who came here seeking opportunity and freedom.”
He further added that immigration remains an essential part of America’s DNA today.
“Immigrants continue to be vital contributors to our society,” said Biden.”They bring new ideas, new perspectives, and new energy into our communities.”
Overall, President Biden’s message was clear: immigration is critical for America’s continued success as an economy and a nation.