Affluent Chinese citizens are moving to the United States thanks to the EB-5 visa program, the Wall Street Journal reports.
Due to draconian COVID laws and a overbearing Chinese Communist regime, Chinese citizens are taking advantage of a visa program intended for affluent foreigners to immigrate to America and inject capital into the economy.
However, the program has been mostly used to park cash into expensive real estate in coastal cities, rather than create jobs or revive the manufacturing economy in the rust belt. The current iteration mandates some investment in rural America, but investors can live anywhere in the country.
This program lays bare the reality that America does not have a coherent immigration policy, with goals that align with America’s needs. Does America need more labor? Or foreign capital? Should America privilege those who want become Americans through and through?
India has currently distanced China in EB-5 visas, but affluent Chinese citizens may overtake them once more. Business and legal stability is one of the main reasons America remains the top destination for migrants from all over
