A recent poll conducted by AAPI Data and The Associated Press-NORC Center for Public Affairs Research reveals that 62% of U.S. Asians and Pacific Islanders view their household's financial situation positively, slightly higher than the 54% of all U.S. adults who said the same in a previous poll. However, only about one-quarter of Asian American and Pacific Islander adults are extremely or very confident they would be able to pay for a sudden medical expense. When it comes to maintaining household expenses, only 3 in 10 AAPI adults are highly confident they can do so, with an additional 46% feeling somewhat confident and 23% having little to no confidence. Additionally, 65% of AAPI adults characterize the nation's economy as at least somewhat poor, and about 4 in 10 believe it will only get worse in the next year. Only about 2 in 10 think it will improve. Despite these concerns, about 4 in 10 AAPI adults expressed approval of President Joe Biden's handling of the economy, while only 34% of all U.S. adults approve of his performance in this area. A majority of AAPI adults (55%) approve of how Biden is handling jobs, while only 32% approve of his approach to cost inflation. On the issue of student debt, 45% of AAPI adults approve of Biden's handling of the matter [d06e1da9].
These findings from the AAPI Data and AP-NORC poll highlight the concerns of US Asians and Pacific Islanders regarding the economy and health care costs. While a majority of respondents view their household's financial situation positively, there are worries about unexpected medical expenses and the ability to cover household expenses. Additionally, a significant portion of respondents have a negative perception of the nation's economy. However, about 40% of AAPI adults approve of President Biden's handling of the economy, indicating a range of opinions within the community [11303511].
In addition to concerns over the economy and health care costs, AAPI small businesses also face challenges. The AAPI business community has the highest rate of entrepreneurship in the country at about 10%. They focus on science, tech, engineering, and math (STEM) education, have high education rates overall, and possess a buying power of $1.6 trillion per year. However, many emerging AAPI leaders need more leadership training. AAPI businesses are involved in global trade, particularly with the Indo-Pacific region. Communication can be a challenge due to the diverse languages spoken within the AAPI community. Access to capital is the number one issue for AAPI small businesses. The National ACE coordinates the Capital Readiness Program to provide assistance to AAPI businesses. AAPI small businesses are optimistic about the future [0d1d806e].