have long been on the horizon, the scope and severity of the crackdown still caught investors by surprise. Goldman Sachs has cut its market-size forecast for after-school tutoring in 2025 by 85%. Shares of New Oriental Education have lost 70% since Friday, when the news was first leaked.
The industry is a big customer of online advertising, but that isn’t the cause of the wider tech selloff. Instead, investors are reassessing regulatory risk for Chinese equities more broadly. Crackdowns like the one on tutoring likely won’t extend to most other sectors, but Beijing has sent a clear message nonetheless. Enormous pain for investors—particularly those of the offshore variety—isn’t a barrier to policy goals.
The crackdown is consistent with China’s aim of reducing child-rearing costs as the population ages. But cracking the whip on tutoring firms does little to address the fundamental forces driving demand for their services: brutal competition for places in elite colleges and for
Chinese for long beat authoritarian rule contradiction to create some of the world's greatest companies but it's internet crackdown now poses the contradiction as THE Central issue which could backfire so big time as it takes away the one thing capitalism likes predictability
Those delivery man are without social funds and accidents insurance, shouldn’t you ask Amazon the same? And what’s wrong in regulating online training companies to exploit young children? What’s wrong in securing personal data of citizens? Shouldn’t US have the same regulations?
China sees how hateful and harmful tech can be and is showing the US Marxist hustlers and grifters how a Marxist government operates on citizens like, well, them.
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horrible
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