ICYMI: Bloomberg Businessweek devoted its November 4, 2019 issue to the “New Economy”, and examined how countries like Canada and Japan have adjusted their immigration systems to make up for their shrinking labor forces by admitting more immigrants. The article also looks at Colombia, as an example of a country dealing with refugees.
In Japan’s case, the focus is on guest workers, but with some having a path to stay permanently. In Canada’s case, the government is streamlining skills-based immigration. Though not mentioned in the article, Canada is also admitting more refugees, and continues to admit family-based immigrants.
Similar to Japan and Canada, the U.S. has a similar aging workforce and low fertility rates, but seems incapable of grappling with immigration reform in Congress. The U.S. will be playing catch-up globally in the competition for talent if the inaction continues.
You can find the Bloomberg Businessweek article here.