Australia's immigration experience holds lessons for aging Asia

Influx has boosted economy, but not always matched country's needs

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Students from China walk along the Sydney waterfront: Education is Australia's third-largest export but students are sometimes exploited as cheap labor. © Reuters

Satyajit Das, a former banker, is author of "A Banquet of Consequences: Reloaded" and "Fortune's Fool: Australia's Choices."

Some years ago, a U.S. investment bank CEO visiting Australia wondered about the "secret sauce" of the country's economic success.

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