China Part II
Besides the things I mentioned in my first post , I want to discuss some of the other things I observed in China. In particular, I wanted to discuss some of the larger social trends I was observing there. What was perhaps most striking was the similarity between the conversations I was having with my friend in Shanghai and the ones I was having with my friends in New York. Both groups feel fundamentally squeezed between their incomes and the harsh financial realities of their cities. Housing, or at least owning it, is more or less unaffordable for both groups (renting is no joy ride either). Additionally, the Shanghaiers felt especially squeezed with respect to school tuition. All of them want to send their children to expensive private schools, where their children will receive extensive English language instruction and presumably have a huge advantage relative to their publicly educated peers. Unfortunately these costs seem make up 25% to 50% of their salaries, and yet they remain ...
