May 2 :
As other countries, like China and India, were experiencing economic difficulties due to "xenophobia," US President Joe Biden stated on May 1 that migration had been beneficial for his nation's economy. The comments were given by Biden during a Washington, DC, fundraiser for his re-election campaign.

Your efforts, along with many others, are contributing to the expansion of our economy. Why? At the occasion, Biden made the following statement: "Why is China stalling so badly economically, why is Japan having trouble, why is Russia, why is India, because they're xenophobic." Further explanations were offered, such that the United States welcomes immigration. Immigrants are not wanted by them. We are powerful because of immigrants.

From highly established Japan's growth of 0.9% to emerging India's 6.8%, the International Monetary Fund predicted last month that all countries will witness a slowdown in growth from the previous year in 2024.

The International Monetary Fund predicted that U.S. GDP will expand at 2.7%, which is little slower than 2.5% growth in the previous year. Migrants increasing the country's labour force is a common explanation among economists for the better-than-expected performance.In the run-up to the presidential election in November, many Americans are worried about illegal immigration. After condemning Trump for his anti-immigration statements, Biden sought out political and economic alliances with countries like India and Japan to challenge Russia and China.

A recent study conducted by the Migration Policy Institute shed attention on the significant contribution that immigrants, particularly those from India, make in meeting the projected need for labour in the US. "How Immigrants and Their US-Born Children Fit into the Future US Labour Market" is a paper that showcases the increasing impact of workers of immigrant origin on the US workforce.

The study found that immigrants had a crucial role in preserving the prime working-age population, with their workforce representation increasing from 19% in 2000 to 29% in 2023.

An important trend towards higher-skilled workers will be seen in the United States, where 72% of future employment will necessitate a bachelor's degree or above by 2031, up from 62% in 2023. The survey emphasised that adults of Asian American, Pacific Islander, Black, and White descent who were born to immigrants demonstrate encouraging levels of post-secondary education, which puts them in a strong position to meet future employment demands.

Biden claims xenophobia is a major economic obstacle for India and China.