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Archive for the ‘education’ Category

The WSJ ran a piece this week titled “China Faces a Grad Glut after Boom at Colleges“.   This issue of oversupply of college graduates in China is not new… it has been written about back in 2006 here, and in 2007 here.  

Together with everything else in China, higher education has expanded at a rapid pace.  Here are the key statistics (from the WSJ article):

china-education

 

 

 

 

 

 

 

 

 

University enrollment in China 30% per year consistantly over the past 10 years.  This growth surpasses China’s GDP growth, and greatly surpasses growth of “white collar” jobs.  Today, Chinese universities churn out >6mn graduates every year.  I have heard that even in prestigious universities like Peking University and Tsinghua University, 30-50% of students will not land a job right after graduation. 

Some people argue that China needs to reduce its university enrollment so that more of the graduates can land a job.  Philosophically, I do not agree with this approach.  Education creates hope and economic/social mobility within a society.  At the individual level, it makes no sense to take the opportunity away.  It is easy to say that there is nothing wrong being a farmer or construction worker when we are not the ones doing it.   Having said, once given the opportunity, it is up to the individual to make the best use of it.

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