NEW DELHI: US President Joe Biden on Wednesday said that India, China, Russia and Japan are struggling on the economic front because” they’re xenophobic”, and “do n’t want immigrants”.
” Why is China stalling but badly financially, why is Japan having problems, why is Russia, why is India, because they’re racist. They do n’t want immigrants. Newcomers are what makes us strong”, Biden said.
Speaking at a campaigning celebration in Washington for 2024 r- election, Biden attributed emigration as the reason behind US’s monetary expansion, Reuters reported.
” One of the reasons why our market’s growing is because of you and many others. Why? Because we welcome refugees”, he said.
According to an IMF forecast last month, each nation’s growth rate will slow down in 2024, with rates ranging from 0.9 % in highly developed Japan to 6.8 % in developing India.
They forecast a 2.7 % growth rate for the United States, which is slightly faster than the 2.5 % rate from last year. Some analysts credit the government’s better-than-expected efficiency in part to immigrants who have grown its labor force.
This comes weeks after Biden attempted to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania by calling China” racist” while highlighting the Eastern world’s monetary woes.
