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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: fatty who wrote (7147)12/5/2002 3:09:38 PM
From: DoughboyRead Replies (2) of 306849
 
What is unfair is that people coming from countries like India and China are doing their native country a big disfavor by immigrating. Their country need their skills and talents and yet all they can think of is enriching themselves.

I beg to differ on that. These countries have absolutely encouraged emigration to the US because they know the benefit down the road will be huge. Educated Indians and Chinese come to US, get trained in the latest technology and bring it back to their home countries. There is of course the loss of a large % who decide to stay, but a large group eventually does go back, even later in life. Look at India's software industry and Taiwan's semiconductor industry; they both were a product of former emigrant entrepreneurs who got trained in the US, saw the benefit of low labor costs back at home, and brought the knowledge back home. Taiwan and Korea specifically encouraged the "brain drain" of the 1970s and are reaping the benefits today. I also take issue with your narrow minded view that these immigrants are somehow different from the immigrants of the past. What is the difference between the Europeans of the 1800s and the Chinese and Indians of today? Why is one group selflessly escaping political persecution and poverty and the other is acting out of greed? I'd say it's all one continuous story of immigration, and in twenty years we'll be talking about the Congolese, Iraqi, and Chilean educated class immigrating to the US. And it'll be the same complaints.

And getting back on topic, there's no doubt that the US economy and the housing market in particular have benefited from the waves of immigrants.

Doughboy.
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