Chinese parents spend on education. American, European parents spend on consumption.
Chinese parents and grandparents tend to invest their last renminbi into the education of their children, their future. In much of Europe and North America, governments have started to borrow the money of their children to finance their consumption today and the debt they have incurred puts a massive break on economic and social progress.
— Andreas Schleicher, The Global Search for Education: More Focus on Skills
Read What Asian schools can teach the rest of us by Andreas Schleicher
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