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After eight years, Macro Polo has ceased operations as the Paulson Institute will focus its independent research on supporting its programs as it continues to diversify its scope.

We appreciate the community that has grown around Macro Polo and the fruitful engagement we’ve had with our legion of smart and sharp audience. You’ve pushed us to deliver even more original work and innovative products. Our body of work speaks for itself, and we hope it will have a long shelf life – that was the intent from MP’s inception.

MP’s website is now archived and no new work will be published henceforth on this site. Please visit www.paulsoninstitute.org for future research and policy work on a range of global issues.

Thank you all for the support over the years, it has been a privilege to have had a home at the Paulson Institute and to have built it the way we did.

- Team Macro Polo

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EB-5 Investment

The EB-5 program offers green cards to foreign citizens (and their families) who invest $500,000 or more in an American project—often a real estate development—that creates at least 10 jobs in the United States. From 2008-2014, Chinese “immigrant investors” dominated the program, receiving up to 80% of the 10,000 visas allocated each year.

But a cap on the EB-5 visas granted to any single country has caused both the number and dollar-value of Chinese EB-5 investments to fall by more than half since 2014. While EB-5 visas attracted much attention, the program is small—averaging just over $1 billion annually from China—compared with Chinese FDI, education spending, home purchases, and travel.

Chinese EB-5 Investment in the US
Chinese EB-5 Investment in the US
EB-5 Investors by Place of Origin (2019)
Takeaway Numbers
Takeaway Numbers
Heat Map of Chinese EB-5 Businesses (Regional Centers)

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Sources: US Department of State, Bureau of Consular Affairs, Visa Office; The Associated Press; United States Citizenship and Immigration Services.