Every weekday this summer, Rose Lei drove her daughter, Angelina, 5, to a golf complex at the edge of central Shanghai for a two-hour, $200 individual lesson with a teaching pro from Scotland.
But now that the school year has started, little Angelina will have to cut back on the golf, limiting herself to weekend sessions at a local driving range. In addition to her demanding school schedule, she will be attending private classes at FasTracKids, an after-school academy for children as young as 4 that bills itself as a junior M.B.A. program.
A generation ago, when people still dressed in monochromes and acquiring great wealth, never mind flaunting it, was generally illegal, the route to success was to join the right Communist Party youth organization or to attend one of the best universities…. [Full Text]