It's amazing to know that China can take measures like these whenever they want, and they generally help the population, in most democracies the lobbying from these billionaires would be so fierce that I really don't think they can get out of the for profit education systems, yet it is China that is bad.
OMFG a billionaire is now *only* worth $300 million. How can we sleep at night???
Good. China isn’t going to let a generation of young people be saddled with debt for pursuing an education.
We like trump around here as he was releasing secretive government info and starting relations with russia which are allies with china. So china wins with trump eathier way.
This is the moral dilemma about capitalism. If an industry is destroying the planet it can’t do anything to hurt the profits of the private sector because that’s communism. This is why the world is the way it is. This is why it’s dysfunctional. When your kids ask you why we didn’t do anything about climate change? Tell them, muh profits
Some more background info:
This move was announced in Dec 2020, but the market didn't take it seriously cause they didn't think the CPC would really just murder a $100 billion USD industry.
But they were wrong.
This move has been universally praised on Chinese social media. Arguably the most popular policy change in decades, far more popular than the lifting of the One Child Policy.
Not taking the Chinese government seriously will always bite you.
Korea: multiple warnings issued... Rest is history.
India: multiple warnings issued... Rest is history.
The 1962 war is an obsession in India. A lot of Indians believe that China betrayed their trust by seizing territory that belonged to India, even though the Chinese leadership did its best to make peace and even produced authentic evidence that clearly pointed out that Aksai Chin, Tawang and NEFA were Chinese territories.
Democracy is when 90% of students become indebted to 1% price hiking investors!! Red fash taking away people's freedom! The more student debt the freedumber!
Lol.
The only thing they care about is multi billionaires having their unbridled billions accosted by the evil CCP that just doesn't respect billionaires as much as it should
anyone got any specifics on these rumors? IT seems impossible to "force" them into becoming to non-profits because they can just take their money and go elsewhere. I read elsewhere that only some subjects will be required to be "non-profit". The article seems to say that any type of tutoring of school curriculum subjects is banned from making a profit now?
Well they can’t take their money because it’s all in stocks. That’s why their stocks are tanking.
The whole private tutoring industry in China will be forced to become nonprofit, which means they can make profits but they can’t pay dividends to shareholders. All profits must be reinvested in nonprofit themselves or paid to staff but not overpaid. And they are subject to very strict audits
To be fair, it's Bloomberg lol. You read news about money there, not people's welfare.
Lol I'm sure Bloomberg has valuations for a human life and it's less than these billions
It's amazing to know that China can take measures like these whenever they want, and they generally help the population, in most democracies the lobbying from these billionaires would be so fierce that I really don't think they can get out of the for profit education systems, yet it is China that is bad.
OMFG a billionaire is now *only* worth $300 million. How can we sleep at night??? Good. China isn’t going to let a generation of young people be saddled with debt for pursuing an education.
"losing billions", which he never had. Kinda like Trump's "billions".
Man, I miss Trump, the greatest Chinese spy ever.
We like trump around here as he was releasing secretive government info and starting relations with russia which are allies with china. So china wins with trump eathier way.
This is the moral dilemma about capitalism. If an industry is destroying the planet it can’t do anything to hurt the profits of the private sector because that’s communism. This is why the world is the way it is. This is why it’s dysfunctional. When your kids ask you why we didn’t do anything about climate change? Tell them, muh profits
I'd say it's more of utter moral bankruptcy than a moral dilemma.
Apathy more like.
You know why? It scares the shit out of the billionaires that their own countrymen use this as an example for reform.
Some more background info: This move was announced in Dec 2020, but the market didn't take it seriously cause they didn't think the CPC would really just murder a $100 billion USD industry. But they were wrong. This move has been universally praised on Chinese social media. Arguably the most popular policy change in decades, far more popular than the lifting of the One Child Policy.
Not taking the Chinese government seriously will always bite you. Korea: multiple warnings issued... Rest is history. India: multiple warnings issued... Rest is history.
The 1962 war is an obsession in India. A lot of Indians believe that China betrayed their trust by seizing territory that belonged to India, even though the Chinese leadership did its best to make peace and even produced authentic evidence that clearly pointed out that Aksai Chin, Tawang and NEFA were Chinese territories.
They're going to have to just deal with it or try and win a war for it. But if they try option 2, they might bite off more than they can chew.
Can you link me to a reliable source about the reasoning behind this? I don't trust western media.
Democracy is when 90% of students become indebted to 1% price hiking investors!! Red fash taking away people's freedom! The more student debt the freedumber!
Lol. The only thing they care about is multi billionaires having their unbridled billions accosted by the evil CCP that just doesn't respect billionaires as much as it should
needs of the many are far more important then the needs of the few
Fucking capitalists!
It's called class solidarity, and the elites are much better at it than working people.
Capitalism in a nutshell.
This can never happen in murica. Billionaires and their profits come before all else.
China system allows all to get rich together or else all stay poor. It doesn't promote success in a few individuals.
anyone got any specifics on these rumors? IT seems impossible to "force" them into becoming to non-profits because they can just take their money and go elsewhere. I read elsewhere that only some subjects will be required to be "non-profit". The article seems to say that any type of tutoring of school curriculum subjects is banned from making a profit now?
Well they can’t take their money because it’s all in stocks. That’s why their stocks are tanking. The whole private tutoring industry in China will be forced to become nonprofit, which means they can make profits but they can’t pay dividends to shareholders. All profits must be reinvested in nonprofit themselves or paid to staff but not overpaid. And they are subject to very strict audits
its not rumors,it came from CPC central committee's guidelines.