Immigration helping the U.S. edge out Asia

News Snapshot:

As the world’s postpandemic economic order takes shape, the U.S. has emerged as an unexpected winner. Asian economies that fared relatively well during the pandemic—especially China, but also advanced economies such as Japan and Taiwan—have struggled to maintain steam. Most Read from The Wall Street Journal The end of the pandemic-era export boom and Washington’s aggressive stimulus are two reasons. But the U.S. has another ace up its sleeve: big postpandemic immigration inflows. Immigrants have helped cap inflationary pressures by expanding the workforce, despite falling birthrates, and will boost growth and public finances for years. Goldman Sachs estimated recently that...