One of the reasons for US economic dynamism compared to the UK and Europe has been its openness to immigration. Current immigration into the US is 1.3 million a year. This is projected to rise to two million a year by the middle of the century. http://www.nytimes.com/2008/08/14/washington/14census.html?_r=1&hp&oref=slogin
Immigration into the US has been particularly strong from Latin America and Asia - two of the most dynamic sectors of the world economy which therefore strengthens links between the US and these key economic regions as well as boosting the US population and labour force itself.
The current trend of immigration into the US is beginning to surpass the great wave at the beginning of the 20th century, when the proportion of the US population born abroad reached its peak at 15 per cent in 1910. The proportion of the population of the US born abroad is expected to rise from 12 per cent today, to 15 per cent in 2025, to 20 per cent in 2050.
Immigrants tend to be significantly younger than the existing population and have higher birthrates. The result is therefore a rapid shift in demography in the US - which it has been prepared to accept, as compared to the anti-immigrant policies adopted in the UK and some other European countries.
The gathering force of these trends is seen in the new data from the US showing that by 2042 non-Hispanic whites will constitute a minority of the US population - eight years earlier than in the last such projection. By 2050 non-Hispanic whites will be only 46 per cent of the total US population. In contrast in 1900 90 per cent of the US population were non-Hispanic whites - today non-Hispanic whites constitute 66 per cent of the US population.
By 2050 the number of those in the US of Hispanic origin will nearly triple from 47 million to 133 million - resulting in their constituting 30 percent of Americans.
Those in the US of Asian origin will rise from 16 million to 41 million - an increase from five per cent to nine per cent of the total population.
The US population of those defining themselves as black is projected to increase from 41 million today to 66 million in 2050, with its percentage of the total US population rising from 13 per cent to 15 percent.
Approximately 16 million people in the US are expected to identify themselves as multiracial — a tripling in number to four percent of the population.
Taking significant landmark dates in this development non-Hispanic whites will be a minority of those under 18 by 2023, will be a minority of adults between the ages of 18 and 29 by 2028, and will be a minority of the working age population by 2039.
The New York Times noted: '“No other country has experienced such rapid racial and ethnic change,” said Mark Mather, a demographer with the Population Reference Bureau, a research organization in Washington.... “What’s happening now in terms of increasing diversity probably is unprecedented,” said Campbell Gibson, a retired census demographer. Several states, including California and Texas, have already reached the point where members of minorities are in the majority.'
The US has major weaknesses compared to Asian economies in terms of a level of investment that is far lower than theirs. But compared to the European economies its openness to immigration continues to constitute a great economic strength.
The contrast to the UK could not be greater. The US is undergoing the greatest wave of immigration in its history - the UK is attempting to shut its doors to immigrants. The Conservative Party has proposed that net immigration from outside the European Union should be nil - walling off the UK from China and India which are precisely the most dynamic and rapidly growing economies in the world.
The anti-immigrant rhetoric in the UK popular press, and the government and Tory Party following of it is economically suicidal - guaranteeing the country's decline.
The US may have problems but in one field, its policy on immigration, it continues to have great strength compared to the UK and Europe.