alt Hacker NewsI have no doubt that this has positive effects on the national economy as a whole (you get workers, on demand, without really paying for raising, educating, training them), but it is not really sustainable because population growth is low/negative pretty much everywhere, and it also leads to significant pushback from cultural friction and local workers (that dislike competition).
You could argue that the whole rise of somwhat radical rightwing parties all over Europe is mainly the result of policies like this during the last half century...
As I see it, the root of unhappiness in voters is nonperformant housing markets and unaddressed growth of inequality where wages are not sharing in growth of profits. This creates a raft of difficult issues. And the rightwing indeed has an effective playbook to exploit these unaddressed shortfalls while blaming immigration. And the center left parties seem unwilling or unable to address the root problems.