Chinese Economics Thread

[SanWenYu]

whoa, relax. The question is how the tutoring ban can be effectively enforced since the wealthy and connected can always find loopholes to give their kids a leg up. The same applies to the video game ban b/c kids can use their parents' accounts or find other ways.

And yes, in today's world you would want your kids/citizens to learn a coupe different languages, get tons of exposure to other cultures. Encouraging them to learn English, which happens to be the most widely spoken language, is not going to hurt them.

The ban is not about afterschool classes on foreigh languages, painting, dancing, piano etc. and summer camps. The directive is very clear about the scope of the ban. It specifically goes after the afterschool tuitions on Math, Physics, Chemitry, etc. which are the major courses of primary and secondary educations. In China the entrance exams for higher level educations mostly just focus on these courses.

This kind of afterschool tuitions were hyped as "enhanced" version of the in-school tuitions to get the participants ahead of competition in exams. It caused inequality among the kids. Not all families could afford such additional tuitions. Even for those who could, it added quite some stress financially.

These afterschool tuitions were actually competing head on with the in-school tuitions. It was causing brain drain from the public schools. Many teachers quit their public school jobs to join the private sector for better pay. Some of those who stayed were found in conflict of interests, Either they themselves had part-time jobs in such afterschool tuitions or they had monetory connections with someone else in the private sector. They were complained for not giving the expected performance as school teachers.

Last but not the least, many, if not most, of these afterschool tuitions did not really deliver their promises. Some of them were even on the border of scamming. It was reported that, at the peak of it, the sector was worth over a hundred of billion yuans in market value (Or it was by estimated revenue annually. I cannot remember exactly).

In the end, the aim of this ban is to keep the average families from being forced into the tuition arm race in which they were sure to lose.

For those who are 20% and above, they can always have private tuitors for their kids. But there isn't anything reasonable the government can do about it at the moment.

Indeed it is a challenge for the government, and the public school system, to enforce this ban. There are always some smart dudes who can find loopholes in about any law or regulation and take advantage of it. Not to mention those who believe that money can buy them everything and anything.

Time will tell whether this ban works.

 

[manqiangrexue]

whoa, relax. The question is how the tutoring ban can be effectively enforced since the wealthy and connected can always find loopholes to give their kids a leg up. The same applies to the video game ban b/c kids can use their parents' accounts or find other ways.

This question pertains to all laws. If someone can skirt them, do you believe that the laws shouldn't exist? Drugs are illegal yet some people become drug addicts/dealers anyway so should drugs be legalized? Murder is illegal but some people can't be caught or use a really good lawyer to get off; do you think murder should be legalized? No laws are leak-proof but they drastically reduce the occurrence and that alone can achieve most of the intended effect.

And yes, in today's world you would want your kids/citizens to learn a coupe different languages, get tons of exposure to other cultures. Encouraging them to learn English, which happens to be the most widely spoken language, is not going to hurt them.

What does that have to do with illegal afterschool test-machine style prep? Everything that kids should learn for their true educational pursuit is taught in the scholastic curriculum. If anything is needed, it can be added.

 

[AndrewS]

Time to harvest the organs of Evergrande billionaire Hui Ka Yan to set an example to other freewheeling billionaires


They enjoy the meat

There's no need to go to that extent

 

[Petrolicious88]

This question pertains to all laws. If someone can skirt them, do you believe that the laws shouldn't exist? Drugs are illegal yet some people become drug addicts/dealers anyway so should drugs be legalized? Murder is illegal but some people can't be caught or use a really good lawyer to get off; do you think murder should be legalized? No laws are leak-proof but they drastically reduce the occurrence and that alone can achieve most of the intended effect.

Are you comparing after school tutoring programs to drugs or murdering. Instead of top down approach, maybe a bottom up reform of schools may be more effective in the long run.

But as long as admission success is based on test scores, not much will change. Chinese parents will find other ways to help their kids stay competitive. Some are privately hiring one-on-one tutors that cost more. The rich will of course send their kids to the West.

 

[Overbom]

Are you comparing after school tutoring programs to drugs or murdering. Instead of top down approach, maybe a bottom up reform of schools may be more effective in the long run.

But as long as admission success is based on test scores, not much will change. Chinese parents will find other ways to help their kids stay competitive. Some are privately hiring one-on-one tutors that cost more. The rich will of course send their kids to the West.

The rich will inevitably find a way. However the problem is still drastically reduced with these measures

If we can't have an 100% effective policy then we can settle for 90%

 

[Godzilla]

Are you comparing after school tutoring programs to drugs or murdering. Instead of top down approach, maybe a bottom up reform of schools may be more effective in the long run.

But as long as admission success is based on test scores, not much will change. Chinese parents will find other ways to help their kids stay competitive. Some are privately hiring one-on-one tutors that cost more. The rich will of course send their kids to the West.

I don't agree with you here. If we are being realistic, the rich will have a benefit regardless of what policy is in place, after all, they can lie down and still be way ahead of most.
Some parents will find a way like you said with 1 on 1, or take a more hands on approach, which might be a good thing, but for the majority, its a lifting of the burden, and not needing to keep up with the Jones & let the school do its job.
Also, lets just be honest here. Tutoring is mostly a waste of time. I took up 1 term of tutoring at high school because my friends were all taking it, and that was the biggest waste of time and money ever. I enjoyed mocking them after exam results are released about how much money they wasted and still can't beat me lol.
If you are smart, you don't need any tutoring to be successful in exams. If you are not so smart, tutoring helps you get to average or slightly above average at best. Not everyone is cut out for academic success, but there is a role for everyone in society and a route to success in most of those roles now in China. (and elsewhere in the world)
Since alot more of the parents are more educated compared to the previous generation, more and more of them will have come to the same realization.

 

[manqiangrexue]

Are you comparing after school tutoring programs to drugs or murdering.

You didn't understand that analogy? Did it go way over your head? It means that you shouldn't withdraw a law just because very rich people may be able to get around it sometimes or basically everything would have to be legal.

Instead of top down approach, maybe a bottom up reform of schools may be more effective in the long run.

Details required. You wanna tear down other people's plans, let's hear yours and see how well it stands up to scrutiny.

But as long as admission success is based on test scores, not much will change.

Admissions are based on scores all over the world but this problem is not nearly as rampant in most places.

Chinese parents will find other ways to help their kids stay competitive.

Maybe making them learn more of the material instead of test-maker analogy.

Some are privately hiring one-on-one tutors that cost more.

Making them illegal will drastically reduce the number of people willing to take the risks by doing it. Of the people who still do it, they know now that if they are caught, if one of their hapless clients reports them because they charged sky high prices but failed to produce results, they are gonna be in a world of hurt. If one bastard kid doesn't appreciate having his cartoon Saturdays taken up by this tutor and reports him, he's gonna be on a pike. Hell, kids are blabbermouths; they talk about their lives at school and if a rival who couldn't afford tutoring catch wind and reports it, there will be trouble. How many tutors still wanna chance it? That's how the legal deterrent works. Laws don't make criminal activity impossible; they deterr a vast majority of them by the threat of fines and/or incarceration.

The rich will of course send their kids to the West.

Has nothing to do with this law.

 

[NiuBiDaRen]

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Bloomberg

China Growth Stocks Look Like Havens as Markets Confront Omicron​

• ChiNext Index climbs as much as 1.6% amid broad Asia weakness
• Nation’s Covid-zero policy seems to find favor among investors

China’s Covid-zero strategy seems to be proving a boon for its equities as global markets fret over the omicron coronavirus strain. Nowhere is this more evident than in the performance of the nation’s growth-heavy ChiNext Index.

Remember, Ray Dalio's "The Changing World Order" comes out this morning. Perfect timing to read this book

 

[NiuBiDaRen]

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Li Shufu is a genius. Under Li Shufu, Lotus hopes to compete with Porsche.

Lotus has an energizing new lineup and finally might grow from becoming a small player. Look what happened to Volvo Cars under Li Shufu. Complete turn around after Ford Motor screwed up the company. Geely also has a huge stake in Daimler. I mean Benz is doing very well these days, they're everywhere! Everything Li Shufu touches turns into gold.

Now that China bought Pirelli it should install their tires on Geely cars!

 

[NiuBiDaRen]

China Fund Manager Reaping 109% Is a Die-Hard Renewables Fan​

Bloomberg News
November 28, 2021, 5:00 AM GMT+8

• Cui Chenlong has been betting on batteries, solar power shares
• Beijing’s carbon neutral goals have buoyed sentiment on sector

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As you guys know I work in an LNG company in charge of research on lithium, hydrogen, solar+storage and wind+storage. Consult me for stock picks

The future is ahead of us!