Wall Street’s most influential mega-investor says migration makes it difficult for developed countries to embrace the high-tech, productivity-boosting technologies that will raise the income of ordinary people.
“I can argue, in the developed countries, the big winners are the countries that have shrinking populations,” BlackRock founder Larry Fink said at a pro-globalist event hosted by the World Economic Forum in Saudi Arabia. He continued:
That’s something that most people never talked about. We always used to think [a] shrinking population is a cause for negative [economic] growth. But in my conversations with the leadership of these large, developed countries [such as China, and Japan] that have xenophobic anti-immigration policies, they don’t allow anybody to come in — [so they have] shrinking demographics —
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