Michael Powers, University School Of Economics, Professor Of Finance discussed on Marketplace All-in-One

Automatic TRANSCRIPT

Actual economists not being especially worried about it there are a whole lot of reasons why we import so much more stuff from beijing than we sell over there but there is one area of this economy where china is trying really hard to import more from us academic talent and that is raising alarm at some of america's top universities as marketplace's supreme inishmore reports if you stroll around the campuses of china's top universities and research facilities you may well bump into someone like this chuck david system professor at seen why university school medicine for nurse david is an american he studied at duke and columbia and sloan kettering in new york he's not the only foreigner at his school or even his department in biology or life sciences we have a british guy someone from spain and an italian woman who ran lab at yale for awhile thousands of them over the past decade have moved and set up shop at top chinese universities and research centres this is more than simply a sign of china anna's growing ability to pay for town it's part of a broader policy by the chinese government there is a strong interest in recruiting faculty from abroad michael powers is a professor of finance at sing while university school of economics and management he was at nyu stern school for twenty years before that he says he was offered a competitive package to move and says china's top institutions that government and private foundations are willing to spend what it takes the universities in china have to be competitive with international salaries so one way or another they will put a package together to attract the foreign faculty in some fields salaries can as a result meet or exceed what a professor could make in the us the central government and regional governments offer stipends and support to foreign faculty and researchers some programs offer health insurance housing subsidies and money for faculties children to go to private schools actually covers a lot of things that is actually fairly important that i got an you know thank god i did.

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