Last week we touched on the first three of the seven major confusions facing young Chinese. Now it's time to address the final four.
Confusion No 4 concerns young college graduates or those who have worked a few years in China: should one go abroad to seek higher education or stay at home and climb the corporate ladder? Being referred to as 'Dr So-and-So' is considered flattering and remains much in vogue, especially if the qualification was gained at a western institution. Given the ample business opportunities opening up for talented people in China, many young people are starting to believe it worth their while staying in China to pursue their dreams.
Jun, Niuniu's former classmate who did not go abroad, tells her that young people can easily join the middle class in America and earn a decent salary, but it's not likely they will join the super rich. 'Staying in China,' she says, 'this is highly possible.'
A few years ago, Jun's state-owned company was privatised. All of a sudden, Jun, as the former party secretary of the company, became the owner of a multimillion-dollar corporation. But, even with his new-found riches, Jun still lacks the vision and sophistication of those who have tasted both worlds.
Confusion No 5: should one buy a house or a car? Young couples, like their peers in developed countries, want both a car and a house. If their income does not allow both together, many choose to buy a house first.
The real estate market is beginning to show signs of strain, especially in the big cities of Shanghai, Beijing and Shenzhen, so their choice is not necessarily because a house is a better investment. Unlike cars, which are considered luxuries, houses are a necessity. Many work units offer houses to their employees at prices lower than market value, or provide subsidised housing as part of the package. It therefore makes more sense to buy a home than rent one.