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Mayor Bloomberg and Ricardo Salinas Release Study on Immigration at the New York Forum

May 22, 2012

NEW YORK, May 22, 2012 /PRNewswire/ –

Chinese business leaders and public sector figures debate the future of US-China
economic relations at the New York business summit

Michael R. Bloomberg, Mayor of the City of New York, and Mexican business leader
Ricardo Salinas released “Not Coming to America: Why the US is Falling Behind in the
Global Race for Talent” at this morning’s opening panel of the New York Forum in New York.

The report, commissioned by Partnership for New York City and Partnership for a New
American Economy, and in collaboration with Fundacion Azteca America, is a first-ever
comparative study of the immigration reforms other countries employ to boost their
economies and lure the high and low-skilled workers needed for continued economic growth.

The panel, Competing for Talent, was the opening session in the one-day business
summit, which also focused on US-China business opportunities. Founded by Richard Attias &
Associates in 2010, the New York Forum is an initiative-based meeting of business and
political leaders, dynamic entrepreneurs, and innovative thought leaders.

Immigration has been sidelined by the US government at the expense of economic and
human capital growth, according to Mayor Bloomberg. “The US government has become so
worried about reelection, has become so partisan, that they don’t consider immigration as
an economic strategy,” he said.

“Immigration has an impact on education system, on our society, and it should be
looked at on both sides of aisle, and at state and federal level.

“Government has walked away from what made this country great and what business and
education needs.”

Salinas, who founded the Mexican conglomerate Grupo Salinas, said: “When it comes to
their impact on the US economy, immigrants consistently “punch above their weight.” They
have, after all, uprooted their lives and relocated, making them ambitious risk takers.

“Immigrants disproportionately bring the inventiveness and entrepreneurial energy that
supercharges innovation in an economy.”

There are currently 42 million immigrants in the US – representing one in seven
residents, and one in six workers. In 2010 the US accounted for roughly 27 percent of the
world’s permanent immigration ows and 23 percent of temporary labor migration (with
Russia and Germany, numbers two and three, respectively, trailing far behind).

The report makes several recommendations for the US to fix its immigration system and
continue attracting the world’s most talented and hardest working:

– Provide visas to the STEM graduates educated in American universities.

– Award more green cards based on economic needs.

– Create a visa program to allow foreign entrepreneurs to build their firms in the
US.

– Let American companies hire the highly educated workers they need.

– Give seasonal and labor-intensive industries access to foreign workers when they
cannot find Americans to fill jobs.

– Allow local governments to recruit more immigrants to meet regional needs.

The forum was opened by founder Richard Attias, who was optimistic that the global
economy was poised for recovery.

He said: “Today, I have the conviction that we are close to the end of the global
economic crisis. Leaders need to make decisions now – and to implement them. They need to
find a balance between stimulus and austerity, and we as business leaders should do the
same for our corporations.

“At the NYF last year, I made a commitment to highlight Africa, which is far too often
ignored. I have the conviction that Africa can be a major part of the solution for the
global economic growth – especially when we look at its average of 6 percent growth
overall in 2012.

“As a result, in two weeks, we will be hosting the first edition of the New York Forum
AFRICA in Gabon. More than 120 speakers and 600 participants from 50 countries, including
34 different countries in Africa, and six heads of states will discuss business and
investment opportunities in this continent of more than a billion inhabitants.”

The keys to economic dynamism and stimulating growth were discussed by a high-level
panel: Larry Kantor, managing director and head of research, Barclays; Craig Mundie, Chief
Research and Strategy Officer, Microsoft Corporation; Anne-Marie Slaughter, Bert G.
Kerstetter ’66 University Professor of Politics and International Affairs, Princeton
University; and Robert Wolf, Chairman, UBS Investment Bank, Americas.

Wolf expressed optimism that the economy was poised for recovery – “80 per cent of
CEOs think that there will be an increase in jobs and an increase in sales in the next six
months”.

He added: “Infrastructure spending could be a key to growth. For every dollar spent in
infrastructure, it has a 1.6 GDP multiplier, and for every billion spent, 25,000 new jobs
are created. At the moment, the US is spending what it spent in 1968 – but the country is
a third larger.”

Slaughter looked at the changes in the higher education system as giving huge
opportunities for economic dynamism. “We are seeing a transformation in the middle sector
of education, as we develop the ability to learn tech skills online and increasingly
interactively.

“Meanwhile, I am starting to see university students question whether they have to
find a job. Now, they ask themselves ‘what can I start?’, not ‘where can I work?’. They
can stay on their parents’ healthcare until they are 26, which gives them a five-year
window to create something.”

The afternoon sessions were dedicated to business opportunities between US and China,
including how the political landscape in US post-election will affect the economic
climate.

The New York Forum is one of a series of topical conferences produced by Richard
Attias and Associates, designed to focus on areas of the global economy that are key to
economic growth and social development. It follows: Doha GOALS, held in Qatar in January
to look at sport’s role in society; Global Competitiveness Forum in Riyadh; Global Food
Security in Rabat in March; and The New York Times Energy for Tomorrow conference in
April.

The New York Forum then moves to Gabon for the first ever New York Forum AFRICA (June
8-10) in Libreville, held under the High Patronage of H.E. President Ali Bongo Ondimba.

There are two more conferences in collaboration with The New York Times, to be held
later this year: the second Schools for Tomorrow, on September 13, and then the first-ever
DealBook conference, Opportunities for Tomorrow on December 12.

About The New York Forum

The New York Forum(R) was conceived out of a conviction that the business world is at
a crucial crossroads. It is imperative to send a strong message of optimism about the
future of the global economy, work to redefine corporate governance, create long-term
value and reinvent business models by bringing together all stakeholders in the economy.

Our focus is on strengthening the connection between economic growth and job growth,
the importance of cities as the key engines of dynamism and innovation, the challenges
corporate leaders face in a time of volatility and uncertainty, and the distinct
opportunities created by growth in emerging economies.

The New York Forum(R) brings together CEOs, investors, and policy makers to
collaborate with industry experts to begin the process of reinventing business and
creating a new paradigm for growth. http://www.ny-forum.com

About Richard Attias & Associates

Richard Attias & Associates is a strategic communications firm that provides private
consultancy, idea initiatives and live experiences. Our mission is to help leaders,
corporations and nations build their global influence, catalyze innovation and lead the
global exchange of ideas.

Using our strategic and operational expertise, we craft unforgettable experiences:
interactive platforms, living laboratories of human capital, and historic cultural
exchanges that help foster positive change for the global community.

Some of the work that Richard Attias and Associates has created or produced in the
last year includes: New York Forum(R) (2011, May 2012, and June 2012 in Libreville,
Gabon); APEC CEO Summit in Hawaii; The New York Times Schools for Tomorrow and Energy for
Tomorrow in New York; Global Food Securities Forum in Morocco; Global Competitiveness
Forum in Saudi Arabia; Meet the Moroccan Economy in New York; Qatar – US Business Forum in
New York; Doha GOALS in Qatar; and African Securities Exchange Association in Morocco.

http://www.richardattiasassociates.com

        For more information please contact:

        Richard Attias & Associates
        Josh Harris
        555 Madison Avenue,

        17th Floor
        NY 10022, New York
        Josh.harris@richardattiasassociates.com
        +1-212-794-8802, +1-917-822-1631

SOURCE New York Forum


Source: PR Newswire