As I pen this commentary from my business for the National University of Singapore or NUS — my alma mater and summertime academic home — I have been notified that NUS has emerged 11th while in the Quacquarelli Symonds or QS Environment College Rankings and reclaimed its posture as Asia’s quantity just one university.
Tellingly, however, the highest 10 universities are based in the West: 5 are inside the United states, as well as other 5 are European establishments. And when NUS has a great deal to celebrate, having climbed steadily in the rankings over the past decade, it’s also engaged in joint ventures with Duke College and Yale College to enhance its health care and liberal arts education and learning programme, respectively.
These types of a joint arrangement, which can be agent of transnational education (TNE), is the focus of professor phan Le-Ha’s new book, Transnational Education Crossing ‘Asia’ and ‘the West’.
Top-ranked universities like NUS and various middling Asian establishments, in line with phan, appear to have a fascination with Western universities, ensuing while in the latter exporting versions in their educational design overseas by setting up overseas campuses in China, Japan, Malaysia, Saudi Arabia, the UAE and Vietnam.
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TNE has, having said that, also drawn its fair share of criticisms as sceptics have already been swift to indicate the follow of exporting Western models of higher schooling to Asian nations around the world constitutes a kind of neocolonialism; as a rule, host countries are coerced into granting concessions and offering means these as land to develop these satellite campuses.
One more unfavourable result is the ostensible exploitation of its students who, as phan notes, may possibly acquire a mediocre instruction. Equally disturbing is how some TNE pupils are individuals who are merely biding their time as they await degree completion and long run work in the household countries of such degree-granting universities.
Quite simply, both the host establishment and host region develop into stepping stones as these learners aspire to eventually move on into the West.
Disposals incorporate control of the Radisson resort group; 1 / 4 stake in Hilton Resorts; key house in Big apple, Sydney, Shanghai, San Francisco and Hong Kong; regional Chinese airways; a stake in plane lessor Avolon; and half of its stake in Deutsche Lender.
Though the prices HNA has sought along with the elaborate buildings, financial loans and various company links that bind its holdings have designed unwinding its investments hard.
HNA’s broader Hong Kong pursuits are a circumstance in level. This 7 days, HNA-controlled CWT Intercontinental said loan providers experienced seized property, including U.S. residence and its Singapore-based commodity buying and selling and logistics unit, since it failed to repay a HK$1.four billion ($178 million) personal loan.
HNA mentioned that it was monitoring the situation, but that it was a matter for CWT and its collectors. However HNA models own 51 per cent of CWT’s shares, and each of CWT’s govt administrators has ties to other HNA firms. CWT’s co-chairman, Mung Kin Keung, is really a shareholder in Hong Kong Airlines.
HNA’s involvement with the airline is just as complex. The conglomerate took charge of CR Airways in 2006 and renamed it Hong Kong Airways. In July 2017 it lower its stake, based on filings, by promoting 34 p.c to Chinese non-public equity team Frontier Expense Companions.
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Based on Hong Kong Airlines’ 2017 accounts, seen by Reuters, the airline held shares in four unlisted HNA affiliates, really worth $367 million at the conclusion of 2017, and experienced loaned $300 million to 2 other HNA corporations.
That yr, the airline’s trade receivables — money owed to it although not collected — jumped 50 percent whilst earnings rose only eleven p.c. Of individuals payments because of, the quantity HNA corporations owed the airline over doubled to HK$1.3 billion, or 73 p.c of receivables.
Zhong is closely linked with HNA at the same time, acquiring been a director from the airline for nearly 4 many years till August 2018. Given that 2017, he has also been chairman of Hong Kong Specific, Hong Kong Airlines’ low-cost sister, which HNA not too long ago agreed to market to Cathay pacific for HK$4.93 billion.