America's Immigration System Has Caused 'Self-Inflicted Economic Wounds,' New Report SaysFri, 05/25/2012 - 12:06 — admin
May 23, 2012
America's immigration system has caused "self-inflicted economic wounds," allowing other countries to outpace the US by recruiting American-educated expatriates back to their native countries, according to a new report released on Tuesday.
The study, done by New York Mayor Michael Bloomberg's Partnership for a New American Economy and the Partnership for New York City, argues that US immigration laws have not kept up with the country's economy, the New York Times reported. Instead, countries such as China are putting efforts into conducting a "reverse brain drain" to lure expatriates back home to teach and start businesses, according to the Times.
China reportedly offers bonuses of about $158,000 to experienced university professors and researchers, particularly in the sciences and technology, who return to the country, the Times reported.