The Magic of Diasporas

The Magic of Diasporas

An interesting article from The Economist, pointing out the contribution (actual and potential) of diasporas to the growth of the world economy. An interesting insight in the context of the current debt crisis in Europe: utilize diaspora opportunities to achieve urgent economic growth objectives in the continent.

"Diasporas spread money, too. Migrants into rich countries not only send cash to their families; they also help companies in their host country operate in their home country. A Harvard Business School study shows that American companies that employ lots of ethnic Chinese people find it much easier to set up in China without a joint venture with a local firm....
"As for the old world, its desire to close its borders is understandable but dangerous. Migration brings youth to ageing countries, and allows ideas to circulate in millions of mobile minds. That is good both for those who arrive with suitcases and dreams and for those who should welcome them."