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China upturns the apple cart in its edtech sector. Companies must now be non-profits, can’t IPO, can’t raise foreign capital, can’t hire foreign teachers nor import textbooks.
— Dare Obasanjo (@Carnage4Life) July 25, 2021
Basically the Chinese government doesn’t think education should be capitalist.https://t.co/rg3OJ3KooG
Really interesting tale of edtech markets, investment, and regulation playing out here. According to edtech market agency HolonIQ, global education stocks have "suffered a massive decline ... primarily driven by regulatory changes in China" this year... https://t.co/I0lSJQK8wJ
— Ben Williamson (@BenPatrickWill) July 23, 2021
"One education technology executive said: 'What are we supposed to do? We can’t fight the Communist party.'" https://t.co/QUPMjpPUX7
— Ben Williamson (@BenPatrickWill) July 26, 2021
JPMorgan: “in our view, this makes these stocks virtually uninvestable.”
— Primrose Riordan (@primroseriordan) July 26, 2021
On the wreckage facing foreign investors from China’s overhaul of its $100bn private ed industry?https://t.co/X09kpQOP81
Desire to get ahead is innate in humans, doubt this works LT and a massive blow..
— Piyush Gupta (@GuptPiy) July 25, 2021
"Among others, they also ban the teaching of foreign curriculums, tighten scrutiny over the import of textbooks and forbid the hiring of foreign teachers outside of China"https://t.co/JE5PpqKi6V
China's move to ban for-profit tutoring is interesting and important in relation to geogs of education, finance, and (maybe) decommodification: a short thread from an economic geography perspective:https://t.co/zlfCh2onKz
— Dan Cohen (@DanMCohen) July 25, 2021
The out-of-school education industry has been “severely hijacked by capital,” according to a separate article posted on the site of the Ministry of Education. “That broke the nature of education as welfare.” https://t.co/lsS9GxheFq
— Lulu Yilun Chen (@luluyilun) July 24, 2021
Amazed by the level of restrictions China has put on so many sectors over the past year. The sectors that can grow big in a free market - financial services, internet tech, crypto, real estate, and now education ??♂️ https://t.co/OiQs1mYS7F
— Wolfie Zhao (@WolfieZhao) July 25, 2021
US free markets have resulted in crazy price increases in education related expenses (see chart).
— Navin Kabra (@NGKabra) July 26, 2021
By contrast, China is outright banning profit-making in this sector.
Who's right?https://t.co/ZNUOLGSiR1 pic.twitter.com/UCt20V3pxn
And the notice is out. Looks like an entire industry could be wiped out. Yuanfudao, zhangmen, zuoyebang, VIPkids, 51 talk, new orientalist, GSX, TAL… the list of companies affected goes on and on https://t.co/Ia3gcG1jBp
— Lulu Yilun Chen (@luluyilun) July 24, 2021
China’s education sector crackdown slams foreign investors https://t.co/lSIRljsaWa
— FT China (@ftchina) July 26, 2021
중국이 테크회사에 대한 전방위 규제로 압박하는 중. 우선 학생들을 위한 교육을 제공하는 에듀테크 스타트업에 대한 규제를 시작. 이런 회사들이 수익을 내거나, 투자를 받거나, 상장하는 것까지도 규제. 특히 해외투자를 못받게 한다고. https://t.co/uDl3g0lOWY 온라인 사교육 업체를 다 규제.
— 에스티마 (@estima7) July 26, 2021
China’s education sector crackdown slams foreign investors https://t.co/v3LB18rC2v
— Financial Times (@FT) July 26, 2021