Chinese Must Be Taught

[William Joyce]

To understand who the real master is:

So a Jew goes to China ... - Life stories - Salon.com

 

[Mr. H.]

Jennifer had wavy hair that flowed down to her waist, carefully applied makeup, and stiletto knee high boots.

Sexy stuff.

 

[waltky]

Global recession tricklin' down in Chinese economy...

High debt at Chinese universities exposed
Jul 4, 2011: Contrary to their opulent look with sprawling campuses, most of the universities in China are running in huge losses raking up a total debt of USD 40.69 billion until last year, an official has said.

Over 1,100 universities in China had racked up a total debt of 263 billion yuan (USD 40.69 billion) by the end of 2010, a senior official with the country's auditing authority said on Sunday. High indebtedness has over the years become a common dilemma at universities across the country, Liu Liyun, deputy director of the research institute of the National Audit Office of China told China National Radio.

A similar report by national auditors few weeks ago revealed that the local governments in China raked up to USD 1.66 trillion which most of them were not in a position to pay back. The main reason for the huge debts by the varsities was the over-expansion of university enrolment and campus construction over the past 10 years, Xiong Bingqi, vice president of the 21st Century Education Research Institute said.

Many universities are forced to borrow money every year to pay back their old debts, which encumbers the development of the universities, Liu said. The 40 provincial level universities in north western China's Shaanxi Province alone had accumulated debt of more than 10 billion yuan (USD 1.5 billion) in 2009.

Source

 

[GiveMeTheFacts]

So far, China has stood behind their state owned enterprises including banks and universities. You are certainly right that the debt situation of the local governments has been a recent topic of discussion and concern. Importantly, Chinese leaders I have talked with understand the importance of education for China's future. Education appears to be a priority and there is particularly intense competition for young people to get into a good university - something all the leaders are aware of.