What is Xenophobia and How It's Stalling the Economy of India, China, and Japan
In a world increasingly interconnected through globalization, the movement of people across borders plays a significant role in shaping economies. Recently, US President Joe Biden highlighted a critical issue during a fundraising event for his 2024 re-election campaign, pointing out the economic stagnation in China, India, and Japan due to their xenophobic attitudes towards immigration. Understanding Xenophobia Xenophobia refers to the fear or hatred of foreigners, people from different cultures, or strangers. It manifests through discriminatory attitudes, exclusionary policies, and other forms of hostility. This phenomenon not only affects social harmony but also has significant economic implications, as it can severely restrict the flow of talent and labor that are crucial for a country’s economic growth and innovation. Economic Implications of Xenophobia President Biden suggested that xenophobia is a key factor in the economic challenges faced by China, India, and Japan. His arg...
