Asia's leaders must recognize that migration not only stimulates economies, but also provides an opportunity to build business and trade linkages. People will not stop leaving their home countries in their search for a better life, but, without an effective global migration policy, more people will die trying to achieve it.
NEW YORK – This summer, 17 Pakistani asylum seekers died when their boat capsized en route to Australia. Given violence at home – exemplified recently by the Pakistani Taliban’s effort to kill 14-year-old Malala Yousafzai for speaking out in favor of girls’ education – it is not surprising that migrants are willing to take great risks in pursuit of new opportunities abroad. In fact, thousands of migrants cross Asia’s numerous and porous frontiers each year with the help of expensive brokers who secure their passage.
As Asia becomes increasingly interconnected, migrants have the potential to contribute to all sectors of society. But government-imposed restrictions on cross-border mobility are generating negative outcomes.
Despite talk of strengthening regional cooperation, a framework for dealing with migration remains an elusive prospect. Given their diverse economic and political circumstances, Asia’s leaders have been unable to agree on a strategy that addresses migration’s fundamental cause: people’s natural inclination to pursue the best available opportunities by any means possible.
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What "Team Transitory" has missed in the inflation debate is that inflation tends to become persistent because of second-round effects. Not only have producer prices risen over the past year or so, but they also have not yet been fully passed through the value chain.
navigates the complex array of factors that give rise to one of the biggest problems in macroeconomics.
Fifteen years after the collapse of the US investment bank Lehman Brothers triggered a devastating global financial crisis, the banking system is in trouble again. Central bankers and financial regulators each seem to bear some of the blame for the recent tumult, but there is significant disagreement over how much – and what, if anything, can be done to avoid a deeper crisis.
NEW YORK – This summer, 17 Pakistani asylum seekers died when their boat capsized en route to Australia. Given violence at home – exemplified recently by the Pakistani Taliban’s effort to kill 14-year-old Malala Yousafzai for speaking out in favor of girls’ education – it is not surprising that migrants are willing to take great risks in pursuit of new opportunities abroad. In fact, thousands of migrants cross Asia’s numerous and porous frontiers each year with the help of expensive brokers who secure their passage.
As Asia becomes increasingly interconnected, migrants have the potential to contribute to all sectors of society. But government-imposed restrictions on cross-border mobility are generating negative outcomes.
Despite talk of strengthening regional cooperation, a framework for dealing with migration remains an elusive prospect. Given their diverse economic and political circumstances, Asia’s leaders have been unable to agree on a strategy that addresses migration’s fundamental cause: people’s natural inclination to pursue the best available opportunities by any means possible.
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