Dear MEL Topic Readers,
Shares in Chinese online tutoring firms slump after shake-up
The number of newborns in China plummeted 15%, or 1.8 million fewer, in 2020 to 10 million from a year earlier. Even after China decided to abandon the decades-long one-child policy in 2016, many Chinese couples, most of who were born as the only child, have been reluctant to have more than one child at best due to the rising cost of housing, health care, and education. Many Chinese parents are so eager to give their only child the best possible education for their future career that they spend an unlimited amount of energy and money on off-school tutorings like cram schools and online tutoring. But this in turn makes them too costly to have another child. The ruling party and the government of China are quick to move. They surprised the parents, students, teachers, and education service providers by announcing new guidelines to regulate tutoring businesses. They also announced the limitation to daily homework so that students and parents don’t have to rely on tutors to finish the task. Will the education competition be eased enough to have another child?
Also, the same situations are seen in Korea and Japan. What will they do with the same problem?
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