Washington: Many foreign nationals no longer view America as the land
of opportunity and a growing numbers of immigrants are moving back to
their home countries - India, Pakistan, China, Singapore and Vietnam.
These countries now have job and economic growth, sometimes double or
triple that of the US.
The US government has not kept numbers on this trend for
several decades. But economists and immigrants say the anecdotal evidence
of it is real. China is experiencing the fastest economic growth of
any country, expanding at eight per cent a year, according to CIA statistics.
India's economy ranks No. 2, growing 4.3 per cent last
year. By comparison, the US economy grew just 2.45 per cent during the
period. In fact, all countries in Southeast Asia have higher economic
growth rates than the United States, the Denver Post said yesterday.
Much of that activity is fueled by US companies outsourcing work there.
With its highly educated, English-speaking workforce,
India has become a prime spot for affordable customer-support call centres,
software development houses and, more recently, technical support centers.
I know a lot of Indians who are going back to India," said Zafar
Khan, a Denver lawyer and accountant who speaks six languages and has
lived in five countries.
Khan said he is considering moving back to his native
Pakistan to join a software venture. "Im toying with it,"
he said.
"I'm an international guy. I can move anywhere there
is opportunity." China has become a key manufacturing centre for
companies across the globe, making everything from washing machines
and clocks to chemical fertilizers and sugar.
"I get calls from friends left and right saying they
are packing up and going back to China," said Hai Yan Zhang, a
Chinese business consultant who travels to the Asian nation five times
a year.
"I go to China and see people's eyes sparkling,"
Zhang said. "Its full of life and vitality there, in contrast to
the US, where we are reaching a plateau, perhaps going down."
Economists say the exodus could hurt the US economy because
America is losing some of the world's smartest and most entrepreneurial
people. And it most likely will feed a controversial trend by US companies
to create jobs or move existing jobs offshore.
The companies, facing competitive pressures, want cheaper
and faster software development, manufacturing or customer service."Those
people will have the talent to do the work in their home country, and
they have the relationships with the companies they used to deal with,"
said Rich Wobbekind, an economist with the University of Colorado.
"It's going to be easier for them to set up facilities
in other countries." Multiple forces may pull immigrants back home,
said Bahman Paul Ebrahimi, a global business professor at Daniels College
of Business at the University of Denver.
Some people arrived here a few years ago to meet demand
from companies that desperately needed talented computer scientists
to keep up with the booming economy. Today, their work visas have expired
and they are forced to go home because they cannot find an employer
to sponsor them, he said. PTI