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Although India enjoys cordial relationship with all ASEAN nations, it is unlikely that diplomatic hobnobbing ASEAN's trade with China far surpasses that with India, and Chinese foreign direct investment in ASEAN rising — on India- Southeast Asia cooperation Comment The anatomy of a police station. The Anatomy of a Trade Emerging Markets in Asia: Insights On China, India, and 6 Other Nations Most of the economic development is achieved on the wings of trained manpower, abundant natural resources and sound financial . The status of Taiwan is complex and so is its relationship with China. An Anatomy of Centrality. 11 FTAs among China, India, Japan, and South Korea. CJK Free Trade Area of the Asia Pacific plus India. GATT.
First, because Chinese and Indian immigrants are the two largest Asian immigrant groups to the U. Second, the children of Chinese and Indian immigrants, the 1. Enduring advantages are home country or mode of entry characteristics e. Enduring Advantages and Immigrant Wealth To understand differences in wealth accumulation within and between immigrant groups, it is useful to consider a model of immigrant wealth attainment that incorporates ideas from segmented assimilation and wealth attainment models.
This model is unique in that it stresses the role of home country context and legal status in immigrant wealth attainment in addition to the role of host country processes e. Both segmented assimilation models, in which parental human capital, modes of incorporation, and family structure affect intergenerational patterns of immigrant assimilation, and wealth attainment models — based on status attainment and life course theories — inform our understanding of immigrant wealth accumulation [ 142324 ].
Modes of incorporation are the various processes through which immigrant human capital, legal status, and race interact with host country perceptions and institutions to shape generational patterns of assimilation [ 25 ]. Pre-migration characteristics are critical to immigrant wealth accumulation for three reasons. First, premigration characteristics strongly predict the probability of migration.
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Research has demonstrated that all immigrant groups are positively selected for immigration to the U. Positive selection is important because immigrant pre-migration educational attainment is strongly correlated with adult wealth and acts as a signal of SES. Educational attainments also indicate home country SES; immigrant pre-migration human and financial capitals are likely to facilitate immigrant wealth accumulation and subsequent economic incorporation [ 26 ].
Parental education is positively correlated with adult immigrant educational attainment, and therefore predicts adult wealth attainment [ 2327 ]. Similarly, skill-level and education are important because certain visa categories e.
Less skilled immigrants with low educational attainment are more likely to enter the U. Social networks are particularly important for these immigrants, as they distribute information about border crossing, migration destinations, and work opportunities, thus making contact with members of these networks a crucial aspect of undocumented immigration [ 2829 ].
Home country context is also important in determining legal status ; for example, immigrants from nations with hostile government regimes sometimes receive refugee status, which provides legal entry and modest government financial support.
Visa status as stratification categories Visa status is one of the most salient immigrant traits, reflecting premigration financial and human capital; given its effect on participation in labor and financial markets, legal status is an important stratification category and likely to have significant implications for immigrant wealth accumulation [ 23 ]. The dichotomy between documented and undocumented immigrants remains the most important legal status among immigrants.
For example, undocumented Mexican immigrants have lower human capital than those who are documented, leading to lower wages and more limited prospects for mobility [ 30 - 32 ].
Exclusion from formal labor markets and financial institutions due to lack of U. Legal status also has important long-term effects on the assimilation of future immigrant generations. Economic incorporation of documented immigrants also varies by visa category. The major visa categories include those granted to refugees, employment principles, family reunification, and diversity visas.
Those seeking political asylum are designated refugees and given relocation assistance by the U. In contrast, immigrants with employment visas tend to have higher educations and professional skills compared to other immigrants; these traits facilitate incorporation into both labor and financial markets and may ultimately increase wealth [ 234 ]. Immigrants entering the U. Educational attainment, labor market skills, and occupational recovery are all strong predictors of asset ownership and immigrant wealth.
Given that these characteristics vary by class of admission, visa status is likely to significantly affect immigrant wealth accumulation and economic incorporation. Host country experiences Once in the U.
Context of reception refers to the opportunities and constraints immigrants experience in their host country. Thus, immigrants who hail from racialized background e. Conversely, immigrants with higher home country SES and beneficial legal status may encounter educational, employment, businessand financial opportunities in the U. In this paper, we consider two types of host country opportunities: Access to financial institutions is the ability and desire of immigrant households to use host country institutions.
The ability to use host country financial institutions e. Although there are undeniable benefits to participating in formal financial institutions, there is significant heterogeneity in their use among immigrants to the U. Several factors, including foreign asset ownership, English proficiency, and U. Foreign asset ownership is important indicator of access to U. Similarly, access to financial institution grows with U. Although immigrants do not enter the U. Receiving formal education in the U.
Similarly, when immigrant households attain higher incomes, facilitated by positive labor market incorporation and educational attainment, they can gradually save and invest in the U. Self-employment is often the sole mode of upward mobility for immigrants with lower educational attainment and limited English abilities [ 2542 ]. While we expect access to financial institution and host country SES to be highly correlated with immigrant wealth attainment, it is important to note that home country SES and visa status generally form the basis for these factors.
Within-group heterogeneity of Chinese and Indian immigrants Previous research on immigrant attainment, including research focused on their wealth ownership, has primarily examined betweengroup comparisons, thus obscuring within-group heterogeneity in wealth attainment. Both Indian and Chinese immigrants are socioeconomically diverse groups due to their distinct migration histories and selectivity processes [ 1443 ].
Although Chinese immigration to the U. Before these reforms, the U. The Hart-Cellar immigration reforms that took effect in facilitated the immigration of 20, entrants with employment visas, in addition to those with family preference visas, from both India and China [ 4546 ].
Pieces of the Asian dream
As a result of these and later immigration reforms that continued to prioritize visas allocated to high-skilled migrants and family reunification, the Chinese immigrant community increased fromin to 1. Selectivity processes also contribute to within-group variation, as immigrants with different SES prior to migration tend to enter the U. The two most common visa types obtained by Indian and Chinese immigrants are employment and family reunification visas.
However, Indian immigrants received about seven times more employment visas than Chinese immigrants insuggesting significant differences between the positive selection of these two groups [ 18 ].
- Emerging Markets in Asia: Insights On China, India, and 6 Other Nations
- Enduring Advantages: Asian Indian and Chinese Immigrant Wealth
Compared to Indian immigrants, Chinese are more likely to arrive on family reunification visas, contributing to a greater degree of socioeconomic diversity among Chinese immigrants. At the same time, a large number of Chinese immigrants receive employment visas, with 1 in 10 employment visas going to Chinese immigrants every year [ 47 ].
The prevalence of employment visas among Chinese immigrants results in high educational attainment for some. These older adults generally have limited English language proficiency, lower rates of labor force participation, and lack knowledge about American culture, all of which can lead to isolation and depression [ 4849 ]. Chinese immigrants who are in the labor force are more likely than Indian immigrants to be concentrated in physically intensive, lower-wage service occupations, such as restaurant kitchens [ 2150 ].
In comparison, Indian immigrants began arriving in substantial numbers after the passage of Immigration Reforms, which abolished country quotas limiting the number of racially and ethnically diverse immigrants to the U.
Indian immigrants are highly selected on educational attainment and occupational skills and receive more employment visas than men of any other nationality [ 1851 ].
Dating back to British colonialism, the English language became widely used in all sectors in India, including education, government, and business sectors.
We expect having strong English language skills upon arrival to provide Indian immigrants a wealth advantage, as they are less likely to experience downward occupational trajectories [ 33 ].
Considering the SES characteristics of these two immigrant groups and our theory of enduring advantages, we hypothesize: Indian immigrant households will have significantly higher wealth than Chinese immigrant households.
Indian and Chinese immigrants with higher home country SES will have significantly greater household wealth in the U.Sino-Indian Relations: Tensions in Asia
Within Indian and Chinese immigrant groups, households with respondents receiving employment visas will have higher wealth than households that have no members with employment visas.
Indian and Chinese immigrants with higher host country SES will have significantly greater household wealth in the U. Indian and Chinese immigrants with greater access to financial institutions will have significantly greater household wealth in the U.
The NIS is a cross-sectional, nationally representative sample of immigrants who are legal permanent residents in the U. Respondents in the NIS sample are unique, as their length of stay in the U. The NIS data is ideal for this research because it includes detailed information on immigrant wealth, including assets held abroad. NIS data also contains information on immigrant visa categories, home country experiences, educational attainment, work experience, family structure, English abilities, and health.
The NIS sampled respondents from the electronic records of the U. In andthe markets were up by The Malaysian markets dipped by 5. India Taj Mahal, India. The new government is working towards creating an environment that is more business-friendly and efficient for foreign investors.
The outlook for the country remains positive, but the government needs to fulfill its promises to keep the momentum going. The markets are down by 1. Philippines Palawan Island, Philippines. Shutterstock photo The Philippines was stuck in a mediocre growth bracket for years, but that is fast changing. Filipino gross domestic product grew at an average annual rate of 6. However, for the nation to truly progress, issues like poverty and unemployment as well as inequality in income need to be looked into.
The markets looked good again with PSEi bounced back with Shutterstock photo The status of Taiwan is complex and so is its relationship with China. Mainland China considers Taiwan as its inalienable part and thus Taiwan does not enjoy international recognition as a separate state. Nor does it have diplomatic relationships with many countries.
Despite political and diplomatic issues between mainland China and Taiwan, the two share strong economic ties; an opportunity as well as a challenge for Taiwan. Taiwan may not have grown diplomatically, but has received great recognition for its economic progress. Taiwan Stock Exchange Capitalization Weighted Stock Index returns for the years,and were 9. In the current year, the index is down by 9.
Other than being a popular tourist destination well-known for its beaches and food, Thailand offers great investment opportunities given its dynamic growth and sound stock market performance.
The markets moved up by SET is down by 5. Launched inthe ETF provides a portfolio of about Thai companies. China Great Wall of China. Shutterstock photo China has been in news lately and not for the best reasons. The Chinese economy is experiencing a slowdown, but still growing much faster than many other economies around the world.