China’s schoolchildren learn how to buy and sell stock

February 16, 2011

On December 9, 2010, a CNN Go Asia headline said, “Shanghai has the world’s smartest teens”.

If you heard the news of Shanghai students beating out 65 countries in student scholastic performance tests in three key categories of ability, the Al Jazeera English video embedded with this post may provide part of the answer of how that happened.

While many American students are applying makeup, drinking sodas, eating candy and french fries in class while texting friends and ignoring teachers let alone reading or doing homework, Al Jazeera reports of twelve year olds in Shenyang, China learning how to be stock brokers.

These students buy and sell and learn how to get the latest information on global stocks.

One Student, Ding Chuan, was asked how his investment portfolio (a class assignment where the students don’t actually buy stocks) was doing, and he replied that last year his investments hit 10,000. Now, his portfolio is at 20,000. He wants to be a millionaire when he grows up.


This Al Jazeera English news segment aired June 23, 2007.

Xiu Shu Jun, the headmistress for the school, says, “We decided to do it because we wanted to give the children a more realistic and practical financial education.”

Tony Cheng, the Al Jazeera reporter, says, “It is ironic that the largest Communist nation in the world has become obsessed with this capitalist pastime.”

Cheng says, “Stock trading goes against about every principal Chairman Mao stood for, and he would be pretty horrified to learn that there are now more registered (stock) traders in China than there are members of the Communist Party.”

Mao’s statue in Shenyang is surrounded by banks. After all, Tony Cheng says, today to be rich in China is glorious.

I say, What Tony Cheng doesn’t tell us is when Deng Xiaoping came to power by arresting those that would have continued the Cultural Revolution, China’s central government repudiated revolutionary Maoism and launched a Chinese style of socialist-capitalism.

Meanwhile, outside school, China’s citizens are buying stocks hoping to get rich quick.

However, some Chinese are learning the hard way that what goes up also goes down.  Investing in a capitalist stock market is like riding a roller coaster and life savings may vanish in a day if the investor isn’t cautious.

Discover China’s PISA Pride

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

If you want to subscribe to iLook China, there is a “Subscribe” button at the top of the screen in the menu bar.


Ma Yan’s Story – Part 2/2

February 11, 2011

A few days after Ma Yan hears that her family cannot afford to continue her education past fifth grade, Pierre Haski, the French journalist, visited her village.  After seeing the diaries, Haski promised that he would help her continue school then go to a university or even further than that.

Needless to say, after the publication of her diaries, Mao Yan continued on to middle school along with lots of attention from the media.

Ma Yan says that most of the media asked her about her experience at school and she wanted to tell them what it was like so the world would hear of the other poor children that wanted to go to school longer.

Because of that media attention, the students at her elementary and middle schools received offers of help.

That outpouring of interest led to the founding of Children of Ningxia, which will soon celebrate its tenth anniversary. The Children of Ningxia reports that the nonprofit has reached out to more than 2,500 students, scholarships to more than 150 and fourteen have finished their university studies since 2009.

China’s government also abolished school fees through ninth grade but many remote, rural families still struggle to pay for boarding fees.

One student, who is still in school, said she would have been doing farm work if it hadn’t been for Children of Ningxia.

As the Al Jazeera segment of Ma Yan’s Story ends, I thought of the billion people living in poverty around the world.  Less than 10% of those people live in China and this story is only of a few of those people.

Return to Ma Yan’s Story – Part 1

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

If you want to subscribe to iLook China, there is a “Subscribe” button at the top of the screen in the menu bar.


Ma Yan’s Story – Part 1/2

February 10, 2011

In January 2010, Al Jazeera Witness reported the story of Ma Yan, a young Chinese girl that lived in rural China in the same poverty that rural Chinese have lived with for centuries and how The Diary of Ma Yan was published in many countries including China (where it was a best seller) and the US.

The village where Ma Yan lived is described in Edgar Snow’s Red Star Over China, but since that time, few outsiders have visited it. The United Nations says this is a region unfit for human habitation. Source: China.org.cn

Contrary to popular opinion, the poor in China did not get this way because of the Communists. The hardship and poverty of Ma Yan’s people and many others in China has been that way for centuries.

It didn’t help when the Communists won China’s civil war and the defeated Nationalists took the nation’s treasury and most of the ancient Imperial treasures to Taiwan leaving China nothing but people and the land.

In this segment of Witness, we travel with Mao Yan as she breaks the cycle of poverty.

By chance in 2001, a French journalist was visiting remote Ningxia province in northwest China when a Muslim woman wearing the white headscarf of the Hui people thrust her daughter’s diaries into his hands.

Ma Yan writes that the economy where she lives has not been developed. However, Mao Yan is not alone wanting to escape the hardship of poverty.  She wrote that her life was like a death sentence.

Then the French journalist read the diary Mao Yan’s mother had given him and was so impressed, he arranged for excerpts to be published in one of the French daily newspapers.

By 2007, Ma Yan passed a university exam and was one of the first girls from her village to be eligible for a university education. Her next move was to Paris where she lives with a French family and attends a university there.

Discover Mao Zedong and Edgar Snow, who wrote Red Star Over China.

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

If you want to subscribe to iLook China, there is a “Subscribe” button at the top of the screen in the menu bar.


Explaining China and Defining the Value of Tough Love

January 26, 2011

China is the polar opposite of America in many ways.  In China, as a collective culture, the child is an extension of the parent and is not seen as an individual.

China has been this way for thousands of years where the family is more important than the individual is and the country is more important than the family and the individual.

The rules of Confucianism emphasized this cultural structure and these behaviors were practiced, endorsed and enforced by the Han Dynasty centuries before the birth of Christ.

In contrast, the American brand of individualism, which is represented by the rudeness and rebellion we see in America today has only been in practice for about fifty years.

Contrary to popular opinion, Americans have not always been rebels. That image was born and reinforced by 20th century Hollywood films that often depict rebellious children and criminals as clever, popular heroes while turning hard working authority figures such as the police, teachers and parents into idiots and oppressors.

In fact, if you read the history of child labor in the United States, you would discover that forms of child labor, including indentured servitude and child slavery, have existed throughout American history.

It wasn’t until the passage of the Fair Labor Standards Act in 1938, which set federal standards for child labor that the US moved toward providing a free, compulsory education for all children instead of children working in factories or coalmines or on farms as young as five.

Before 1938, instead of going to school, most American children went to work at a very early age and often labored twelve or more hours a day six days a week with only the Sabbath off.

The cultural concept that earning an education is worth the sacrifice of hard work that it demands has never existed in America.

However, China has a long history of providing an education to children of all classes as far back as the Han Dynasty since that is what Confucius taught.

In China for more than two thousand years, teachers and parents have been the heroes and are respected for the sacrifices they make to better a child’s future, which does not translate into encouraging a child to chase his or her dreams since, in reality, fantasies seldom come true and only a “few” achieve such dreams

After all, not “everyone” can become the next Bill Gates, Oprah or Selene Dion.

The collective concept of Confucianism has no room for an individual’s rights or dreams. What an American sees in China as oppression, most Chinese don’t even think about because that way of thought doesn’t exist in China’s Confucian dominated collective culture.

Hence, a Tiger Mother, such as Amy Chua, is respected for doing her duty as a Chinese parent. Being a SAP (the Self-esteem arm of Political Correctness) parent would be unthinkable.

I suspect that even if Amy Chua doesn’t sell the Chinese rights to her book, a publisher in China will steal the book, translate it and it will be a massive bestseller as Chinese parents buy and read her book to discover tougher methods of parenting.

That means Chinese mothers will be reading Chua’s book to learn what it takes to raise a child that performs in Carnegie Hall, while those mothers criticize Chua in public instead of praising her while secretly trying out what she learned from Chua.

That sort of behavior to say one thing while doing another is also common in China since Taoism is the other side of the Chinese character.

Bragging is also not acceptable until you have earned the right to brag by achieving the goals you set for yourself that no one else has ever heard of since bragging that you will be the next Bill Gates when you are a child is considered stupid and maybe a sign of a mental illness.

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

If you want to subscribe to iLook China, there is a “Subscribe” button at the top of the screen in the menu bar.


Eating Bitterness

January 15, 2011

Mainland Chinese are different. They are willing to eat more bitterness than others to learn.

The reason I’m writing this post is due to Amy Chua’s Essay in The Wall Street Journal and a response from Funny Little World where Nang Ngot wrote in a comment, “You can have a system like China that churns out smart but obedient drones. There, the collective behavior guides the intellect.”

Mainland Chinese are not obedient drones any more than all Christians, Jews, Muslims, Buddhists or Hindus are obedient drones within their cultures.

Within every culture, each person is an individual. In China, the difference is how the individuals see themselves in relation to the whole. That does not make them drones.

There’s even an ancient Chinese saying that supports being disobedient, which explains why the central government in Beijing is having so much trouble with corruption at the local level. “The emperor lives behind high walls and is a long ways from our village.”

In simple language this means, “What the emperor doesn’t know won’t hurt us.”

Where Jews and Christians have the Bible and Islam has the Quran, the Chinese have a culture governed by a mixture of Confucianism, Taoism and in part by Buddhism.

The Chinese do not need a temple, church or mosque to tell them what to believe and how to act.

Although there is no Confucian bible, the basic guide that Confucius left behind is as significant as the Ten Commandments, the Bible and the Quran.

In Chinese culture, those guidelines were designed for living a moral life and the family teaches the children as the child grows into an adult.

The Chinese family has done this for thousands of years until it became part of the culture, as Christianity is to the West and Islam is to the Middle East.

Stanford.edu says, “A hallmark of Confucius’ thought is his emphasis on education and study.”

Nicholas D. Kristof, writing for the New York Times, says, “Perhaps as a legacy of Confucianism, its citizens have shown a passion for education and self-improvement — along with remarkable capacity for discipline and hard work, what the Chinese call “chi ku,” or “eating bitterness”.

Kristof  is a two-time Pulitzer Prize winner. He graduated Phi Beta Kappa from Harvard College and then studied law at Oxford University on a Rhodes Scholarship, graduating with first class honors. He later studied Arabic in Cairo and Chinese in Taipei.

Kristof writes, “China used to be one of the most sexist societies in the world — with female infanticide, foot binding, and concubinage — but it turned a corner (in 1949 when Mao said women hold up half the sky) and now is remarkably good at giving opportunities to girls as well as boys….”

At China Education Center.com, I learned that many scholars believe the history of education in China started in the 16th century B.C., and Confucianism has had the largest impact on education for more than two thousand years of Chinese history.

In fact, during the Han Dynasty (206 BC – 219 AD) a form of public education was established. Not only for the elite but also for the common man so both would become better gentlemen.

In contrast, it wasn’t until 1918 that all states in the US had laws requiring children to attend at least elementary school. In 1900, only 6% of children graduated from high school. By 1996, 85% were graduating from high school.

Compared to China, the importance of earning an education in the United States is relatively new and doesn’t have as strong of a cultural component.

Discover more on this topic at Mean Chinese Supermoms are Right while Positive Self-Esteemism is Wrong

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Lloyd Lofthouse is the award-winning author of the concubine saga, My Splendid Concubine & Our Hart. When you love a Chinese woman, you marry her family and culture too.

If you want to subscribe to iLook China, there is a “Subscribe” button at the top of the screen in the menu bar.