Last month, my blog mate Kat Chow wrote about who sent a staggering $57 million of his winnings back to the Dominican Republic, where his family lives. Let's ignore the sheer dollar amount for a second to look at the larger global trend that Quezada represents: the growing amount of money flowing from high-income nations to what the World Bank classifies as "middle-income" nations.
Seventy percent of all "remittances" — the money that migrants send back to their countries of origin — goes to middle-income nations like the Dominican Republic, India and Mexico, according to a newly released Pew study that crunched numbers from the World Bank. ( if their per capita annual incomes fall between $1,036 and $12,615.)
