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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: RealMuLan who wrote (17655)12/5/2004 9:10:33 AM
From: BubbaFred  Read Replies (1) of 116555
 
The 5,000 yuan / year cost for undergraduate study in "regular university" in China is super cheap. The cost at the top private middel school in Shanghai is 10,000 yuan / year. Perhaps these types of schools can only exist in Shanghai, Beijing, and Guangzhou where there are enough wealthy people. The curricula is rigorous that includes mandatory English, the only mandatory foreign language from middle school level. There are other private schools such as international schools for kids of diplomats and foreigners. The cost of international (in English) middle and high school in Shanghai is 15,000 to 20,000 U$Dollar (yeah, not yuan).

The "top" rating is based on how many percent of the schools' students score in national exams which are used for qualification to high schools and universities. The high scorer middle schoolers go to "top" high schools, and high scorers in high scholls are qualified (also get scholarships) to the top universities. Of course the cream of the crop university students get invited to do graduate studies at MIT's and Ivy Leagues of the world. Or, has this changed with the prevailing paranoia?

There should be no doubt about the quality of the undergraduate students in China's universities. There are not as many universities in China as there are in the US, including community colleges. So the universities in China get more of the top of the cream high school students. In addition, how about the dropout rate? Funding for research programs in China's universities will come and become larger as China's economy grows. Of course, it impossible to claim make such comparison with schools like the Berkeleys and MIT's.

As far as creativity, why bother question it? The unprecedented rapid progress in China's economy and positive influence in the world should and will speak for itself. The environment to nurture creativity is in place and is not being repressed. The environment is the most important aspect, and as more funding become available, there will be more programs that fund research. As you noted, China's research programs will be limited to science and technology, whereas research in social science and psychology will lag. When they start going into these fields, the impact could be worse for others. The primary reason is the foreign languages offered in high schools and when those foreign education will return to China because of better opportunities.

As far as flocking to China for university education, that may happen by 2025, and certainly by 2050. It will happen as research funding become more available. In particular when private research fundings will move to where they can get the biggest bang for the buck. If I were a research fund manager, I would be looking for the most effective ways to use the funds and that includes finding places where the talent pool is available at lower cost.

Everything goes with the flow of money and wealth creation, so goes prosperity and creativity. What and where is such momentum today and in the foreseeable future?
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