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immigrants support the economy

New York City has always been a city of immigrants. But over the last 10 years, the inflow of immigrants into the New York City area created a major economic impact. These new immigrants are opening businesses at a rate much faster than native-born Americans. According to a new report recently issued, between 1994 and 2004, the number of businesses in Flushing, a neighborhood of Chinese and Korean immigrants, increased by 54.6%. In contrast, the number of businesses in NYC increased only by 9.6%. New businesses opened by immigrants include grocery stores, restaurants, travel agencies, insurance agencies, real estate brokers, etc.





NYC and its surrounding areas have benefited from the new businesses opened by immigrants. New businesses create jobs and put money in our pockets to spend. It is the people’s spending that creates a strong economic nation. Although Japanese companies have cleared bad debts that caused the depression, the country still does not seem to recover. One reason is that Japanese companies are keeping their profits inside the company and not sharing it with employees. Big companies need to keep a lot of cash to be competitive in the global market.

However, written earlier in “1.2 babies in her life time”, Japan’s population is shrinking. And when a country’s population decreases, there are fewer people to buy goods and services. To maintain today’s economic strength, Japan needs to find a way to refill its population by (1) laying down social infrastructure where women can give more births, or (2) accept more immigrants. Unfortunately, (1) is not a realistic option Japan has so the nation is left with welcoming more immigrants. And that may be a good thing. Like in NYC, new immigrants to Tokyo may open new businesses and revive the city.

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