Introduction
Immigration is the particular international movement of people to a country where they do not have citizenship or in which they are not indigenous with the purpose of settling as naturalized citizens or permanent residents. Urbanization is a special term that describes the decreasing proportion of people who live in rural areas, the population shift from rural to urban areas, and the possible ways of societies’ adaption to these changes. It is hard to disagree that immigration and urbanization have significant impacts on the rise of the global economy.
Main body
Immigration is a severe process, the effects of which are not completely studied. According to Saiidi, “nearly 50 million people in the U.S. are foreign-born, which accounts for about 15 percent of the total population.” Hence, in all parts of the world, there is a significant number of immigrants, which provides all countries with a net economic benefit. For example, the International Monetary Fund found out that the share of migrants one percentage point increase GDP per person in advanced economies by up to two percent. It is hard to disagree that this influences the global economy.
It is evident that people have lived in the countryside, small towns, and villages for almost all of human history. However, over the last two centuries, the proportion of the world’s population living in rural areas has grown rather rapidly (“The Role of Cities in the Global Economy”). In 1800 it was five percent, and in 2008, more than half of people had become the livers of cities. Of course, there are some significant impacts of urbanization on the global economy.
This process delivers prosperity and wealth, but there are some costs, and a certain financial framework has to be established in order to cover them. For example, it may be done through taxation, and if it affects one country’s economy, it also influences the global one. Moreover, seventy percent of greenhouse gas emissions because of climate change come from cities.
Conclusion
Hence, “their share of global emissions is likely to increase further as urbanization grows” (“The Role of Cities in the Global Economy”). That also influences the global economy since cities will have to accelerate the use of renewable energy.
Works Cited
“The Role of Cities in the Global Economy.” Pictet, n.d. 2020. Web.
Saiidi, Uptin. “Here’s What Research Shows About Immigration’s Impact on an Economy.” CNBC, 2020. Web.