Business News

CCTV Script 22/11/16

This is the script of CNBC's news report for China's CCTV on November 22, Tuesday.

Welcome to CNBC Business Daily, I'm Qian Chen.

Kris Kobach, Kansas' secretary of state, accidentally divulged his immigration plans while posing for a photo opp with President-elect Donald Trump.

The documents appear to detail Kobach's strategic plan for the Department of Homeland Security for the first year of the Trump administration, which include reducing the "intake of Syrian refugees to zero" and "extreme vetting questions for high-risk" individuals.

NBC News previously reported that Kobach, a champion of hardline immigration policies, had been hired for Trump's transition team.

Now, fears have been rising among immigrants. As the new administration mulls what steps to take on border security, it's worthwhile to consider how much a discriminatory database-the Muslim registry-will hurt us economically.

The United States has always depended on immigrants to fuel its economy.

Forty percent of the companies in the Fortune 500 in 2010 were founded by an immigrant or the child of an immigrant, according to the bipartisan Partnership for a New American Economy.

Pierre Omidyar, the son of Iranian immigrants who first went to Paris and then the United States. Omidyar founded eBay.

Then there's Omid Kordestani, the current executive chairman of Twitter, who was Google's 11th employee and its first business executive, responsible for all revenue and partnerships.

People from the valley might ask - After the 1978 revolution in Iran, when it would have been easy to create an environment of fear and rejection in the United States. If that had happened, would highly educated Iranians have come here in such numbers? Would they have been able to form the kind of community that has helped create one of America's biggest assets, its high-tech industry?

Now, from Amsterdam to Singapore, some other places are targeting these talents.

As of 1 January 2015, a new regulation has come into effect that makes it possible for ambitious entrepreneurs to apply for a temporary residence permit for the Netherlands. The so-called residence permit scheme for start-ups affords ambitious entrepreneurs from outside the EU one year to launch an innovative new business in the Netherlands.

If Silicon Valley can't keep educated immigrants, we might see them moving to places where they feel safe and wanted.

Entrepreneurs of all races and creeds might give a second thought to coming to America.

CNBC Qian Chen, reporting from Singapore.

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