America's Immigration Crackdown Disrupts Global Remittance Market
America's immigration crackdown may have severe financial consequences for various countries. The Trump administration's decision to shut down USAID and reduce international aid and development spending has raised concerns among development advocates.
“the anti-immigration actions of the Trump administration are likely to have an even bigger negative effect on the economic development of the world’s poor countries”
According to Dean Yang, an economist at the University of Michigan, migration is a key mechanism for lifting people out of poverty. The impact of the immigration crackdown on the global remittance market is a significant concern.
Author's summary: Immigration crackdown affects global remittance market.
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