[leongrado]

China is "great" in some aspects and not great in others. The one party system allows the government to make decisive decisions and act with the backing of tax dollars. Look at the high speed rail system. It pretty much went from non existent to one of the world's best rail systems in a matter of years. It's the same with this AI initiative.

Why are rich parents sending their kids to the US? There's a shortage of jobs for college graduates in China and many parents are hoping that a degree from a western college will give them a better chance at finding a job either in the US or China.

As for buying property. The biggest reason is probably diversification and the fact that the Chinese see property as a good investment. Housing prices in China have sky rocketed and many Chinese families have more than one house that they just leave around with no one living in them. Just like how stock investors invest in foreign stocks, Chinese landowners are diversifying their property.

Foreign investors don't want to buy property in China probably because of the pollution problem and the fact that they think that the housing market there is a huge bubble.