Richard Perry/The New York Times
NEW YORK Many of the customers at Armajeet Singh’s market in Queens are immigrants from South Asia.
WASHINGTON, Nov. 21 — To glimpse how migration is changing the world, consider Western Union, a fixture of American lore that went bankrupt selling telegrams at the dawn of the Internet age but now earns nearly $1 billion a year helping poor migrants across the globe send money home.
1 comment:
This article show the effect of globalization in this world. We see many people leaving their homeland and coming abroad. With this in mind a new market of money transport has opened. In most Asian cultures it is a given that if any member of the family leaves home and does not have their own family to support they send money home. The strongest example is the power of the dollar. When my parents first got married and my father made money to support our family, pay for his education, and as well send money home since the value of the dollar was a 1:42 ratio. Using money grams makes it easier to transport large sums of money abroad. Instead of having to write a check and worry about it getting their and arriving to the right place. Where a money gram allows the money to be transfered right way or within a fast time frame.
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