美国人为什么富有？

　　陈志武

　　美国耶鲁大学管理学院金融学终身教授

　　记者：我们想请您谈谈国富与民富的问题。您在《金融的逻辑》书里提过“财富不是资本，更不是钱”，资本主义的老大美国长期消费全世界的产品，都说美国人有钱，那美国人的钱是从哪来的呢？比如像勤劳和智力如果算资本、算无形资产的话，我觉得中国人这方面的资产还可以，那中国老百姓的钱哪去了？为什么比美国人穷那么多呢？

　　陈志武：中国的问题一方面是资本化、金融化的程度不够，另一方面是政府拥有太多的资产和收入。政府有钱有利于增加GDP的短期效果，但是只有民富，才有民生的幸福。简单地讲，你说到的智力、勤劳，这些都是人力资本财富，但在中国这些更多是资产，是不能动的财富，不一定是资本，因为它没有可以流通起来，更不是今天就可以花的钱。而美国资本化的发展，方方面面的金融市场的发展，使得美国人的那些资产，包括那些跟劳动力有关的未来收入，还有土地等不动产，都是可以流动起来，可以变成今天就能花或者再投资的资本、钱。我们说，有价值的东西，包括未来收入，都是财富，但财富本身不是资本，财富和资本最大的差别在于，财富可能是死的价值，可能是不能创造价值的价值，而资本是被流动起来的价值，本身可以生钱、可以创造价值，所以比财富更有价值。中国历来就有很多土地、资源、未来劳动收入，但这些价值由于一直都是死的，没有能够转换成资本、转变成钱，所以，资源再多、资产再多、未来收入再多，也不一定显得有钱；相比之下，这些死的资产财富、在中国不能动的这些未来劳动收入，如果是在美国，则由于其资本化、金融化的程度高，都可以变成活的、能再生价值的资本，于是，美国的钱就比其他国家都多。

　　记者：我想具体的请教一下，比如美国老百姓可以从哪些地方去挣钱？有好多渠道是中国老百姓没有的？

　　陈志武：比方说，跟年轻人和中产阶级相关的，是借贷和融资手段，现在中国有住房按揭贷款、汽车贷款、学习贷款等，还有其他消费贷款、创业融资渠道。在有这些金融产品之前，年轻人即使他非常有能力与魄力，能够经商、创业，他未来收入的潜力可以很大，但他不一定有办法去找到资金，去实现他的潜能，他的未来预期再好也没有用。在美国，这些创业融资渠道历来就很多，包括亲戚朋友范围的人，也更包括血缘关系网之外的正式金融机构。在中国，这些年慢慢在变，今天有按好多种揭贷款工具，把一部分未来收入预期利用起来，让年轻人扩大他的发展空间。以前很多人说，那不是在超前消费么？万一亏本，风险会很多嘛？但，这就得你自己决定了，我并不是说所有的人都应该这样去做，用这些工具、这些渠道，总比没有要好。原来的情况是，不管你有没有创业能力，都不能有这样的选择，包括像浙江、广州、江苏等等那些创业文化、商业文化比较发达的地方，他们的手脚原来也都没放开，没有太多的创业融资途径。如果能够给他们提供更多的金融化、资本化工具，他们接下来的创业发展空间就会扩大了。资本化发展给那些有能力的人提供的是机会，帮助放开他们的手脚。

　　记者：美国人都爱说“美国梦”，中国人白手起家，在创业的过程中可以说遇到了难度相对于美国人要大得多吧？

　　陈志武：随着中国经济的增长，个人的收入和积蓄越来越多，所以，创业资金的来源比以前多了，但是，比起美国人的创业融资途径还是要少。像刚才讲到的，是否能把不动产和未来预期收入变成流动的资本，在中国还非常有限，特别是在农村，土地是集体所有，所以，尽管土地使用权现在掌握在农民个人手里，但还是不能流转买卖，也不能把土地使用权和农民宅基地用来做抵押融资，所以，再有能力的农民也无法把土地财富转换资本，在美国就不存在这样的问题，土地和宅基地随时可以变成创业资本。另外，在美国，政府管制比中国少多了，包括银行业、风投基金公司的管制等等，要走过的审批步骤少，金融行业的条条框框限制少，金融资本和金融服务量就多，创业致富之路上的障碍就少。相对而言，在中国要创办一家基金公司，或者一家民营金融机构，想要得到审批非常非常难。

　　记者：性格方面呢？您长期在美国生活，您觉得哪种性格是美国人最本质的写照呢？

　　陈志武：美国人最典型的，可能也是最重要的文化特征，就是美国人非常自由、在想象空间上不受约束，当然这个话可能听起来像套话，但是美国社会非常推崇个性化表达，父母也尽量把你往你个人的特质方向引导，他们会说：你的个性就是你，不管在别人看来你的个性特质是多么奇异，你只管发挥你的个性。在个人能力方面，如果你的个性特长是在文化、政治、艺术或者是哲学、商业等等，只要你喜欢，就不要因别人的看法而感到自卑或者怎么样，而是要按自己的路去找，所以，在美国就会有《阿凡达》这样有创意的电影，也有谷歌、苹果这样的传奇公司。不是就是要有个性。个性化思想和个性化行为，这些应该说是美国人最强的文化价值，跟中国强调忘我没有个人、强调中庸、强调同流合群的文化特质，是截然不同。

Why MBAs are Going East
Unprecedented growth, good salaries, and the ability to make an impact faster make Asia the new promised land for B-school grads
James Tsai is the sort of MBA corporate recruiters covet. He went to a good prep school, earned a degree with honors from Middlebury College, and made vice-president in Bank of America's (BAC) international wealth management group at the age of 26. Today, Tsai is about to graduate, straight A's in hand, from Northwestern's Kellogg School of Management, a top-rated program in America. And he's hustling to land his first post-MBA job—in China.
Executive Class strivers like Tsai used to have just one post-grad career destination, the U.S. Not anymore. "I am doing everything I think I can to get over there," he says.
Every era has its version of the MBA dream. In the 1980s, it was about conquering Wall Street and choppering off to the Hamptons. The late 1990s saw a stampede to Silicon Valley. In the mid-aughts, the gilded, clubby preserve of private equity beckoned. Now, the emerging narrative is about steroidal Asia and its promise of growth. At premiere institutions such as the University of Chicago's Booth School, the University of Pennsylvania's Wharton School, and Northwestern's Kellogg, the percentage of MBAs taking jobs in Asia—including U.S. students like Tsai as well as international students—has more than doubled in the past five years, from roughly 5% of the graduating class to more than 10%. "There is a sense that the center of gravity is shifting," says Julie Morton, Booth's associate dean for career services.
The number of students taking international jobs usually swells in a recession, says Kellogg Assistant Dean Roxanne Hori. But Hori and others believe that the refrain of "Go East, Young Man" is not a short-term response to the U.S. economic downturn but a structural shift toward an internationalized, mobile talent market. And right now, Asia is where the career velocity and opportunity are. "This has never really happened before, except in little spurts, where you have a fairly large group of talented, recent MBAs asking for assignments in China, Vietnam, India," says Jeff Joerres, CEO of global staffing firm Manpower. Adds Richard Florida, professor at the University of Toronto's Rotman School of Management: "I don't think many of us thought Asia would become the destination for top Western talent—but it is."
ONE WORD OF ADVICE
For many MBAs, the prospect of making a bigger impact faster is simply too good to pass up, especially now that the pay packages offered by both domestic and multinational companies are competitive with those in the U.S. Shortly before James Crawford, 30, headed to Columbia B-School two years ago, his dad sat him down in the kitchen of the family's suburban Chicago home. Think of that scene in The Graduate, only instead of saying "plastics," Crawford's father's advice was "Asia." Today, Crawford is pursuing multiple opportunities there. "I can't imagine a career over the next 30 years that would not require or give benefit to international experience," he says. Asia fever has also hit Wharton student Andrew Maywah, 32, who had a cushy life working at Oracle (ORCL) in Silicon Valley before graduate school. Now he is juggling offers from three Chinese companies. "It's like the Wild, Wild West. There is just so much happening there," he says. "I want to be at the center of it."
So do many Chinese who emigrated to the U.S. when they were young. They find themselves breaking the news to their families that they're chasing the same dream that lured their parents to the U.S., only in reverse. (What better time to leverage the family capital back in the old country?) The Chinese call these returnees hai gui, or sea turtles, referring to how these animals always return to their birthplace to lay their own eggs. Then there are the international students, who until recently would likely have stayed in the U.S. to learn the soft skills of Western management, and now are heading straight back home.
Piyush Singhvi, 27, was born in India, grew up in the Middle East, and, before Wharton, worked at the Dubai-based private equity firm Abraaj Capital, the largest non-state-owned firm in the region. When Singhvi enrolled in Wharton in 2008 he was certain, he says, that he would stay in the U.S. after graduation like most of his peers. But then came the financial crisis. "It was amazing to see how many people came in with the idea that they would stay in the West, and how that's drastically changed to just the opposite," he says. "There are a lot more opportunities in the East."
On Facebook, Twitter, and Skype, MBAs swap stories about the adrenaline rush of working in an emerging market and the joys of geographic arbitrage. After graduating from Duke University's Fuqua School of Business, Quan Trinh, 27, who grew up in Virginia, took a job with Johnson & Johnson (JNJ) in Shanghai. There she partakes of an upper-crust-Manhattan-type lifestyle—food delivered to her door every night, a maid who picks up after her, a balcony apartment in a compound with a pool—at Albany (N.Y.) prices. Add to the mix that she travels around Asia with top J&J execs, working in the strategic planning division for the company's diabetes business, and, she says, "sometimes I have to pinch myself."
STANDING ROOM ONLY
Asian companies used to rarely, if ever, come to American B-school campuses for recruiting season. Now at Wharton, Chinese firms like heavyweight investment bank China Investment Corp. and IT firm Tencent are showing up, says Wharton global careers director Sam Jones. This year, CICC played to standing-room-only crowds. At Kellogg, India-based Infosys (INFY) and Tata Group are now on hand for recruiting. The University of Chicago's Booth School is seeing so much interest from Chinese companies that it recently opened a career services office in Hong Kong.
South Korea's Samsung Electronics has been on a hiring tear. Last year the company signed 50 non-Korean MBAs from the top 10 business schools in the U.S., double the number of 2008, says Samsung Vice-President Kim Keun Bae. Those 50 were in addition to the dozens of ethnic Koreans that Samsung scooped up from MBA programs in America. At Kellogg, the company hired 16 business school graduates alone—more than U.S.-based hiring stalwarts General Mills (GIS) and Procter & Gamble (PG) combined. The new hires work in Samsung's Global Strategy Group, which does all of its business in English, advising top Samsung executives on internal consulting projects. This year the company is on track to again double its hiring of U.S.-born MBAs. "The young and smart from top U.S. business schools have helped provide fresh perspectives to our company," says Kim. "Both foreign recruits and Korean employees learn from each other, and that helps globalize the company."
In many cases, companies like Samsung are acing out their American rivals in hiring the very best candidates. Kellogg graduate Jonathan Scearcy, 28, had 30 job offers last year, most from top U.S. companies. But he turned them all down to take a job at Samsung so he could "get international exposure early," he says. "If you ever want to be at a C-suite, you have to have a global skill set and you have to have significant international exposure," says Scearcy.
"GROOMING GLOBAL CITIZENS"
Multinationals like Citibank (C), Pfizer (PFE), Eli Lilly (LLY), and Nike China are also broadening their international programs and amping up hiring for their Asia divisions. Last fall a phalanx of high-level IBM (IBM)ers hit premiere B-schools to talk up IBM's new five-year boot camp for its general manager program. The program gives the new hires massive international exposure, especially in places like Asia. "We are looking to attract global citizens," says Peggy Tayloe, IBM's recruiting director. Big Blue recently flew the recruits to its Armonk (N.Y.) headquarters, where they sipped cocktails and nibbled canapés in the inner sanctum of the company's plush C-suite. One of the new hires hobnobbing at the party was Harvard MBA Yashih Wu, who was born in California and graduated from Princeton University. Before B-school, she worked on Wall Street and Madison Avenue. But for her those places aren't the career destinations they used to be. Today, she says, "It's impossible not to think globally about one's career."
How much longer can the Asian allure hold? With protectionist talk rising in America, and China trying to put the brakes on its rapidly growing economy, there's always a chance that Asia could stumble. There's also rising concern about what the migration East might mean for the U.S.'s competitive edge. "I can't get out of my head that two-thirds of Silicon Valley companies were started by non-U.S. citizens," says Manpower CEO Joerres. What if, after Stanford University, Google (GOOG) co-founder Sergey Brin had returned to his birth country of Russia? What if James Tsai is about to do the Next Big Thing—but in his dad's old country in Beijing? "The best and the brightest are leaving," says the Rotman School's Florida. "As a country, the U.S. has never confronted this before."
With Moon Ihlwan in Seoul

All Reader Comments
page 1 of 7

James
Mar 16, 2010 4:16 AM GMT
Here in the US, "the best and brightest" created the Great Recession. So perhaps it's not such a bad thing if these people leave. Let them go screw up China's economy.
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Scott
Mar 16, 2010 3:00 AM GMT
Interesting article. Having lived in Asia for the last 6 years, I subscribe to this belief: "How do you become a millionaire in Asia? Come here with 2 million." Being sent over to Asia on an expat salary - something which is becoming rarer and rarer all the time - is very lucrative. However, coming over after looking for work here on your own is typically un-profitable. You will notice that our champion Tsai is still looking, as opposed to the US where he would have a job lined up already.
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Mar 16, 2010 2:17 AM GMT
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doubleplusgood
Mar 16, 2010 1:04 AM GMT
I'm not really worried about MBA's leaving as much as I am about science and engineering grads becoming bankers. Attracted by ludicrous salaries, the best minds are doing absolutely unproductive work in finance. Instead of actually innovating and keeping the economy ahead of the rest of the world. Imagine if the founders of google had worked at a hedge fund instead of starting a technology company! That's what's happening these days! But it doesn't really matter, the looming energy crisis will make all this irrelevant within 20 years as the economy will essentially grind to a halt.
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Sierra.L
Mar 16, 2010 12:31 AM GMT
Let me remind people that China did execute a British citizen for smuggling drugs into the country two months ago. China is not the place for people who want to get rich quick.
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Frank.V
Mar 16, 2010 12:05 AM GMT
Keep all the criminals in your criminal nation U.S.A .The world doesn't need them. Wherever Americans go, financial risk, social risk, health risk, economic risk, security risk will follow. We have had enough with whatever is coming out from your criminal nation.
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CommonSense
Mar 15, 2010 11:48 PM GMT
We can sent all the MBAs, reporters like you, all the bankers, Lawyers, brokers, insurance people East and keep all the scientists, engineers, researchers and manufacturing people and see who will win the race. An MBA degree without technical skills and good common sense means nothing. Just look at Wall Street. All the MBA wisdom and greed has created all economic problems around the world. JUST TURN THE ELECTRICITY OFF IN YOUR HOUSE FOR 24 HOURS AND YOU WILL UNDERSTAND BETTER.
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Raja Muthuraman
Mar 15, 2010 11:48 PM GMT
There are two key parts to a fast growing economy 1. Demand for products (proportional to population) 2. Affordabilty of the population. With the oriental countries such as China, India, etc having both these components, the opportunties are limitless. Where the oppurtunities are, there you will find the best and bright.
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Jeff
Mar 15, 2010 10:16 PM GMT
A good article that might get you thinking...im looking at starting an MBA (distance learning) end of 2011. I want to have it in the bag when my next move comes up....
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@Interguru
Mar 15, 2010 10:14 PM GMT
Joesph, I don't think that your lack of formal education (per your online resume) means that you have to trash those pursuing their MBA. Class act.
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PintoBeans
Mar 15, 2010 9:45 PM GMT
@Gabe, San Diego. I think you should be sent back to spain to improve spain's economy. If, not, please provide a convincing argument to continue to allow you to live in San Diego.
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bj
Mar 15, 2010 8:57 PM GMT
@Gabe, San Diego, Hi, need more of you to chase all the talents oiut, so, we can become a country of pheasants and fornicators like you.
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casey
Mar 15, 2010 7:32 PM GMT
People who want to make money go where the jobs are whether you are a MBA, pHD or migrant worker. It is a fact that countries like China and India are growing faster than the US. This means opportunity. If a MBA goes there to start his/her own business, spread the wings of an American company overseas, or help a local Chinese company, so be it. This is the same thing that has been happening in the US for a long, long time - people coming over with work visas or other temporary work. We should be glad that China is coming out of the dark ages of poverty, called Communism.
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Interguru
Mar 15, 2010 7:13 PM GMT
Great. They can wreak the same havoc there that they did here. It's good to get rid of them.
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American dream
Mar 15, 2010 7:04 PM GMT
China's big cities already have first world infrastructure. Just imagine if it becomes a democracy, loosens up its media, lose the censorship, corruption...the US is toast! Luckily we still have another 20 to 30 good years before those people get it together. China right now is for the adventurous, unfortunately those are typically the people who end up being very successful wherever they go. For now the US is still the land of opportunity -- even if it's increasingly more for the illiterate peasants of central America, South Asia and Africa!
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hassan
Mar 15, 2010 6:52 PM GMT
it was a Turkey, istabul Game nau an
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Go home Gabe
Mar 15, 2010 6:43 PM GMT
Gabe, perhaps it's time you go back to where you came from too, was it Mexico or Spain again?
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Wow
Mar 15, 2010 5:35 PM GMT
Wow...there is so much anger toward "MBA's", it's almost funny. Assign generic blame to a Master's degree for today's economy if it makes you feel better, but I can almost assure you it was a different group of individuals buying homes without the income to support them. Classifying MBA's as one analogous group is convenient for the media and angry villagers like the commentators below, but it offers no substance to any of your already weak arguments.
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gabe, san diego
Mar 15, 2010 5:23 PM GMT
I think its great that foreigners who get their MBA's in the US are heading back home! let them go back and help build their own countries. gabe, MBA

miro
Mar 15, 2010 5:10 PM GMT
"What if, after Stanford University, Google (GOOG) co-founder Sergey Brin had returned to his birth country of Russia?" Well, that would have been a terrible loss for the US. But he graduated with a doctorate in CS. This article is focused solely on MBA drones heading to Asia in their quest to join "the C-suite", so no big loss. Let them infest the Far East with worthless power-points.
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jjw
Mar 15, 2010 4:46 PM GMT
GOOD RIDDANCE!!! Take 'em ALL !!! 15 years of watching these MBA idiots do nothing constructive except spend all day on PowerPoint for some totally worthless meeting. Worked with way too many of these time-wasters.. Hurry up and LEAVE !!!
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millions
Mar 15, 2010 3:24 PM GMT
these mba are only in the east cause they were assigned by there company.. it would be interesting if mba just immigrated to the east on their own permanently. a two job assignement isn't really immigration but a tour.
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DanTe
Mar 15, 2010 2:25 PM GMT
Oh gods! China is already being hosed over by her corrupt cancerous commie oaf-ficials. Now she's going to get reamed by MBA's! ______ MBA = Massive Bulls' Anuses. Suitable for unloading massive amounts of bull in a short amount of time. Hiring a lot of Massive Bulls' Anuses generally leads to the lost of company value through uncontrollable diarrhea of funds paid in bonuses (pronounce bull-anuses). All justified by overly convoluted spreadsheets and pretty colored charts. It is a meaningless degree consisting of 2 years of learning jargon and canned case studies of companies with no grounding in real finance and history studies of past cycles. I would bet most of these Massive Bull's Anuses does not even know what a Dutch Tulip Market was. Any degree with an "A" at the end of it is basically nothing more than Anuses. When hiring, stick to the real "S"hit. At least a Masters in Science requires 'some' brains.
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edy
Mar 15, 2010 1:48 PM GMT
MBAs...don't let the door hit you...you know where!!!!!!!
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Mar 15, 2010 11:25 AM GMT
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Commie Stooge
Mar 15, 2010 10:52 AM GMT
I'm sure that these MBAs will suceed in screwing up Asian companies the same way they did in the US!
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Paul Denlinger
Mar 15, 2010 10:48 AM GMT
Fact is that sea turtles from the US aren't that popular with Chinese companies anymore. May have been true several years ago but not anymore. What business skills they learn in western b-schools can be more than made up with Chinese who have gone to local b-schools. Plus, the local Chinese have the business relationships which the sea turtles don't have. So, while 1-2 years of China on their resume looks good to their US/European employer when they go back, chances are that they were really just used in the office as an expensive decoration, instead of doing anything really meaningful, especially if they worked for a Chinese company.
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Mingster
Mar 15, 2010 5:43 AM GMT
I have seen a couple of Indians disagree with the article by pointing out the low living standard of the East. Actually, life in Shanghai (or Beijing) is really good. Particularly if you are a Chinese (so you can shop local brands) and earning somehow comparable Western salaries, then your living standard is much higher, as the cost of living is considerably lower.
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Jeffrey Zhao
Mar 15, 2010 4:48 AM GMT
Quote----- The Chinese call these returnees hai gui, or sea turtles, referring to how these animals always return to their birthplace to lay their own eggs. ---End Quote I am a genuine Chinese,living in Beijing. I would like to clarify the true meaning of "Hai Gui". I admire the author's animal knowledge about Sea Turtle, but the actual meaning and derivation of this word is like this: "Hai Gui"'s deriect Chinese meaning is the returnees from overseas (especial those grads studied and worked abroad). And "Hai Gui" has the identical pronunciation with Sea Turtle in Chinese. So lots of Chinese use the same pronunciation to compare those returnees as the Sea Turtle. Generally, no such profund meaning mentioned by author, but a jocose comparison steming from same pronunciation

Buzzlair Voufincci
Mar 15, 2010 4:41 AM GMT
Kudos to Avatar Krishnan. Yes, i do believe that going to china or india is best but the quality is extremely different. hence, most of the brightest mind is in the west. it will be your motivation factor. go to thailand, you will be shot. go to indonesia you will be bombed. no offend. but that it is, life in the west would be promising. not having a job doesnt mean you are not going to have job at all. opportunities are there.
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Avatar Krisnha
Mar 15, 2010 4:05 AM GMT
Agree with Tarun's comments. Move to East, is a journey back in time. Most of East will take atleast 20-30 years to achieve quality of life as that of the west. Till then - be prepared to put with power outages, crowded lifts,foul smelling streets, lack of civic sense. Unless one is willing to contribute to change all this - Forget East. Even without a job, life in West is better.
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chinese
Mar 15, 2010 4:00 AM GMT
i am a chinese and currently in U.S for a MBA degree.I will definitely go back to china after gradutation.before i came here i already have long years of working experience and was paid at western level.china is still in a primitive development stage and needs the scientific approach to develop.the country has realized that so does many smart business owners,i am not saying the western approach is asolutely scientific and correct but at least that will bring different perspective and open minds for our country fellow.though china has 5000 years of history but only 30 years of experience in developing a capitalist economy compared with a history of 200+ years in west.there is no doubt china will have a huge huge demand for mba students.by the way some of the comments said they can stoke china by barring the imports.but if you look at the numbers that 50% of exports revenues are from western invested companies you know barring china imports is a shoot on the own feet.the economy has become truly global and the interest has become deeply intertwined.
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logic
Mar 15, 2010 3:52 AM GMT
If American MBAs can wreak the same damage on Asian companies as they have on American firms, this will be sweet. It will definitely level the playing field and give America a second chance.
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Keramos
Mar 15, 2010 3:45 AM GMT
Finally. Hope for the rest of us. Send all the MBAs over to the east as soon as possible and have them bring ruin and destruction upon those economies as they have upon ours. While we're at it, let's move all the business schools over there, too. Boy George is an MBA, take him and Cheney along for the ride. Fast, move it, now!
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Steve Bangalore
Mar 15, 2010 3:08 AM GMT
The story lacked facts. Just how many fresh MBAs are going abroad? At least 50% of USA citizens taking an overseas job do not finish their contract. Remember years from now, a new employer may need a reference from your overseas employer, good luck. MBA or not, just know that you are not in Kansas anymore toto. In India / Asia or amywhere else connections not your glamour MBA will determine your success.
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Robert Laughing
Mar 15, 2010 2:50 AM GMT
Asia, and the Middle East are VERY EXCITING places...I've spent a decade in Asia, and beyond, and wouldn't trade it for Silly Con Valley experience!!!! Asians are VERY entrepreneurial, and don't have a lot of the pretentious hang=ups of American MBAs. Personally, we have TOO MANY lawyers, and too many INEXPERIENCED, UNTRIED MBAs. The Asians, outside the Japanese, and a few S. Koreans have ZERO brand names....but that will change....it's a WHOLE NEW WORLD out there - don't let being 'American' BLIND YOU to being BECOMING A PART of the Future!!!!
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alees
Mar 15, 2010 2:48 AM GMT
Well...is just something will pass I am sure. Why? Very simple. I've seen this done that. I was working in US then my country had a recovery, I came back in my country (was a lion of East Europe) now, is in the deepest recession ever. Is just a bubble you can of course USE IT but for short term! The system in US is different...you will see in 5 years from now. The center will come back where was already and will be forever US and UK. Bye!
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Mar 15, 2010 2:14 AM GMT
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Victor for H1B visa in China
Mar 15, 2010 2:10 AM GMT
Hey hey hey , how about creating something like an H1B visa for China entry and let these western folks know what a dirty monster immigration is. Welcome to the new world, America.

Joe
Mar 15, 2010 1:57 AM GMT
Many of us decide to go to Asia not because we don't see the opportunitie in the U.S., but because we believe that there are more holes that need to be filled there.
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Marc
Mar 15, 2010 1:43 AM GMT
Why didn't these guys go to an Asian business school instead? Much better local network and focus on local issues plus local recuiters. In addition, at the current pay level in emerging markets it will take a long time to recover the cost of an MBA in the US (one reason why many international MBA students from CHina or India hope to stay in the US for some time after the MBA)
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JoAnn Dilay
Mar 15, 2010 1:39 AM GMT
read
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Phil
Mar 15, 2010 1:38 AM GMT
I would be concerned about the starting salaries that are much lower than in the US. Who knows whether they will ever be able to catch up with their US peers...
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Jack
Mar 15, 2010 1:15 AM GMT
MBAs are so overrated and overhyped. Please give us a break! Remember the dot-com era? MBAs couldn't do any darn techie work. So they just hype (talk) it up to a bursed bubble. Remember the sub-prime era. Again, MBAs didn't know a darn thing about what it really was. And you know the consequence!
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steve
Mar 15, 2010 12:58 AM GMT
You will know if it is hype or not. Just ask MIT MBA. How many of them planning to growth their career in China? you will be surprise, it is more than 50%.
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Question
Mar 15, 2010 12:44 AM GMT
This article is typical of today's media. All they need to do is find ten people doing something, they then call it a trend and hype it to an extent that we believe it is the future.
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Joe
Mar 15, 2010 12:13 AM GMT
America was once a great and powerful nation who could influence world politics. Now, unfortunately, America is loosing to other rapidly rising stars to the East and South. In the 1800's , people around the world flocked to America in search of a better life. Now, America is experience a brain drain. Lets hope America can get its act together and turn this around before it is too late.
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Marcus
Mar 14, 2010 8:32 PM GMT
haha, the entire article rests on the HUGE ASSumption that MBA's are the "best and brightest" ..... they are NOT. MBA's are mostly garbage, i think the first person to get an MBA was Satan.
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Third world
Mar 14, 2010 5:58 PM GMT
It appears that America is loosing its competitive edge in the business world. With the prospects of increased taxes to pay for the ever increasing lower class and changing demographics of the American way of life, there is no incentive to stay in America.

Sandeep
Mar 14, 2010 5:30 PM GMT
I second your thoughts Tarun, the author seems to have gone bonkers in his evaluation of life styles in India and China. The outsourcing fever has reached feverish pitch and this is only because of cheap labor availability and nothing else. I am sure the East is changing but to put so much so fast seems like some one is day dreaming.
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AsiaBound
Mar 14, 2010 5:25 PM GMT
@Doubtful - I don't want to work for a Chinese company, I want to work for an American company tapping the potential of the Chinese market. I will probably look to work in several emerging markets before my career is over. Why? Because there is a lot of opportunity to build a business and build a career out there in the world. SO why not? To those who think that is "opportunist", you simply don't understand. Its not a get rich quick scheme, it requires massive commitment. Btw, since when is going after an opportunity a bad thing? Going to foreign countries to build new businesses is a career choice, if its not for you then good for you but you shouldn't bash others for it. If you don't want a global career then stay home but think hard about why you feel the need to pass judgment on others that do. Are you sad you couldn't do it? Are you annoyed that your career isn't where you want it to be? Do you just need something to complain about to make yourself feel better? Why do all the naysayers feel the need to pass judgment on someone's career choices? Who are you to pass judgment on anyone?
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Tarun
Mar 14, 2010 3:49 PM GMT
What a load of crap article. I am working in mumbai and have lived in west . i can tell you from experience that when it comes to a life nothing can beat the west. True in India career progressions can be faster and comforts (maid servants etc) are there but there is too much office politics, poor infrastructure, snobbish rich people, extremely foul air and basic lack of decency and civilization. You can make a quick buck here but dont expect a sustainable civilized life
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Tom
Mar 14, 2010 3:45 PM GMT
I think the elite students realized how lazy middle america is. After all middle America is fat(statisticly) and lazy. The Obama goverment only encourages laziness! Promising free health care for the irresponsible boomer generation. There will only be more red tape in the weatern world because the baby boomer(majority) generation just votes for themselves...after having years of low taxes that Canadians never enjoy because we have universal healthcare... Americans gotta realise that they can't have everything!
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Ken
Mar 14, 2010 3:01 PM GMT
Remember when immigrants flocked to America for'The Dream' of a better life? I don't either.That was a different world.Now our future leaders will follow global corporations wherever the profits lead them.
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ps
Mar 14, 2010 12:57 PM GMT
Let's hope the MBA's do for Asia the same that they did for the US.... GM, Chrysler, Enron etc. I think Toyoda-sama is the first Toyota CEO with a US MBA. If we can get more MBA's in Asia the competitiveness of the US can only improve as Asia will be as myopic, short term and coldly analytical as our MBA geniuses.
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Jim
Mar 14, 2010 9:41 AM GMT
To "average ejoe". If you're going to call people idiots you should at least learn to spell. It's "from" not "form". Otherwise, you end up looking like the idiot.
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averag ejoe
Mar 14, 2010 4:18 AM GMT
wow comments form 3 idiots. typical ignorant americans.
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Could it be...
Mar 14, 2010 1:27 AM GMT
That our American Corporations are concerned about the uncertainty that China's future is having on their operations and are attempting to ignite the passion of young, independent, critical thinking MBAs? Are they recruiting and developing a new generation of young overseas managers and leaders? Economic problems worry the international business community. Consumer demand in China remains anemic, and generous bank lending may be creating bubbles in stock and real estate prices.
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mitch arson
Mar 13, 2010 11:02 PM GMT
Asia is going to cool off soon, its a huge bubble about to burst. It has never made the transition to r&d and its still assemblying boxes for the west. The coming protectionism will deem everything made in china to be undesirable by consumers in the west. Only go to China if you inted to spend the rest of your life there, if you are just being opportunistic it will be the mistake of your lifetime.

MBA
Mar 13, 2010 10:42 PM GMT
Wow, I didn't realize that our "Best & Brightest" were MBAs! This is a joke? The US population continues to grow. We have plenty of talent to replace these students. Let's start tapping into our Middle American states where America's real business mavericks and future leaders reside. We welcome the friendly competition and challenge presented by our Global economy. Let's create a smarter planet starting with common sense.
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Michael Denny
Mar 13, 2010 6:29 PM GMT
Thirty years ago I left the USA for Asia and I never looked back. After tours in HK, Singapore,the Philippines, Thailand and North Africa, I wonder if I will ever return to the USA.
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Doubtful
Mar 13, 2010 3:20 PM GMT
@AsiaBound- Any generalization (ie. MBA's are going East) is by nature myopic, so let's look beyond that. I'm not disagreeing that managers need a global mindset and should understand China. That is very different than getting your education in America and subsequently moving to China to work for a Chinese (state-influenced/run) corporation. Perhaps greed is too strong a word, but this is opportunistic without a doubt. If you want global exposure there are a multitude of available avenues outside of working for a corrupt and repressive nation.
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Bo
Mar 12, 2010 10:58 PM GMT
Have people been waiting for the recession to go to China? By my estimation people have been going to China and other BRIC countries for many years. If you knew what you were talking about Tushar you would know that people who go to China tend to stay there for 5+ years. How exactly is that instant gratification?
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Tushar
Mar 12, 2010 9:28 PM GMT
Its not really valid to say that B schools are doing it for the sake of rising economies. Had that been the case why would Graduates wait till recession. It has the same principle of allure as US has been for Asians before. Though china is leading player in global economy, we dont see any such things happening for BRIC countries either. Instant gratfication is still word of day. As far restricting work permits as AL says is nothing but ridiculous idea. What if tomorrow US barred chinese emigrated their or pull its investment(48% of investment in IT, man sector in china is US/UK). If asia stumbles tomorrow it will not be surprise if we see all these people running backward to US again.
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AsiaBound
Mar 12, 2010 8:57 PM GMT
@Doubtful - "The allure of China goes no further than, as Crawford says, "wanting to be at the center of it"" This is a highly myopic and short-sighted viewpoint. Calling someone greedy and opportunistic is ignorant. People looking to work in China are looking to prepare themselves for success in a globalizing world economy where China will be a central player. Your issues with piracy, etc. are issues of market dynamics but doesn't change the fact that China will be a dominant economic force in our lifetime,one that successful managers and business leaders will need to understand and deal with.
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Al
Mar 12, 2010 6:18 AM GMT
I think this is ironic. So many Americans blame foreigners for taking away their jobs, yet a here are a lot of Americans who don't mind doing the same. I think China needs to introduce a limit on work permits and make residency process long and very expensive.
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Doubtful
Mar 12, 2010 2:42 AM GMT
I'm afraid that many of my fellow "top-tier B-schoolers" are simply greedy or opportunistic. The allure of China goes no further than, as Crawford says, "wanting to be at the center of it". Many of these ambitious folks see China as more exciting and simple way to rise to the top (whether accurate or not). Taking a read over the top Businessweek Article "Software Industry Loses Patience with China" offers plenty of explanation as to why I have no desire to serve a Chinese company or the economy that they are birthed in.