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Why It Matters

  • Borderline Case

    Mac Margolis | Mar 14, 2008 10:35

    Politicians on both sides of the partisan divide in the U.S. rarely miss a chance to beat the drums over the perils of the immigrant tide and the imperative to "secure our borders." That might be a good idea. With the world's largest economy on a slide, the dream of making America is looking less lustrous every day, and now the U.S. risks seeing one of its most dynamic and creative sources of human capital blow away with the prairie dust. 

    There are already troubling signs. A recent study by the Inter-American Development Bank reports that the flow of dollars Latin American and Caribbean immigrants send back home is slackening. In 2007, Latins living in the U.S. remitted $66 billion to their native countries. That's not half bad (a record amount, in fact) but what drew the Bank's attention was the modest 7 percent increase over the previous year. Until then the flow of dollars back home had been expanding at double digit rates every year. Last year the nominal sum of incoming migrant dollars actually fell in Brazil, from $7.4 billion to $7.1 billion.

     

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  • China: Parliament Hears Corporate Pain

    Newsweek | Mar 14, 2008 09:07

    By Mary Hennock

    China's parliament is frequently dismissed as a rubber stamp body whose delegates agree with every government measure and avoid controversy. This year's session has seen a new trend at work. The two-week gathering of the National People's Congress has seen protesters lobbying hard against a key government policy. No, not Tibet independence activists, angry farmers, or unemployed workers, but company bosses. Many delegates are entrepreneurs, and they're objecting to China's new labor contract law, introduced just over two months ago. "The law is overly-protective of workers' rights," delegate Zong Qinghou told Reuters, adding, "It isn't reasonable." Zong is the chairman of Wahaha Group, China's biggest private soft drinks company.

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