Schwarzman’s China education fund: Hoped to bring “mutual respect”

21 Apr

Stephen Schwarzman, a CEO of the Blackstone Group rated the 57th richest billionaire in the Forbes list for the USA, recently announced that he has launched $300m “scholarship programme to send 200 foreign post-graduate students to study in China each year” at the University of Beijing. Schwarzman is personally donating $100m of his own fortune to the cause, fundraising the rest, and this is undoubtedly a prestigious opportunity for those lucky enough to be offered it.

However, the idea behind this scheme is not simply to enrich and benefit the lives of a lucky few students. There is greater political meaning behind the programme as Schwarzman hopes that it will bring a “win-win relationship of mutual respect between China and the West”. As these countries are so crucial to each other, it is clearly a brilliant idea to develop projects which provide benefits to each side. It is hoped that economic ties will be enhanced even further through this new development.

What is interesting about this investment, which includes many famous donors, is that it is not simply about education and the youth prospering. There appears to always be a deeper, political meaning behind these kind of operations between such important powers. It is realised that “fostering connections” between students, and the younger generations, in China and the USA is critical in order to ensure future “geopolitical stability”.



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