Monday, May 27, 2024

Joe Biden says 'xenophobia' stalling China, India economy – N.F Times


Washington: US President Joe Biden said that “xenophobia” from China, India and Japan is stopping the economic growth of these countries as he argued that migration is good for the economy of the United States. Speaking at a Washington fundraising event for his 2024 re-election campaign, Joe Biden said as per news agency Reuters, “One of the reasons why our economy’s growing is because of you and many others. Why? Because we welcome immigrants.”

The US President marked the start of Asian American, Native Hawaiian and Pacific Islander Heritage Month as well, He said, “Why is China stalling so badly economically, why is Japan having trouble, why is Russia, why is India, because they’re xenophobic. They don’t want immigrants. Immigrants are what makes us strong.”

The remarks comes as the International Monetary Fund (IMF) forecast last month that each country would see its growth decelerate in 2024 in comparison to 2023. This could range from 0.9% in highly developed Japan to 6.8% in India while the United States would grow at 2.7%, slightly faster than its 2.5% in 2023.

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