[photopress:chinesembas.jpg,full,alignright]An article in the British Daily Telegraph states that as China’s economy continues to grow even faster than predicted, so too does applicant demand for business education and the demand for MBA graduates.
GDP growth for the first quarter of the year was 10.2%, but the number of Chinese students applying to school looks set to rise even further.
International Graduate Management Admission Test volume reported by the Graduate Management Admissions Council shows an increase of 11%, with Chinese registrations showing among the strongest growth.
A recent report by independent economics think tank the McKinsey Global Institute (MGI) identifies what it calls China’s ‘looming talent shortage’, and insists that effective managers are in very short supply. The report estimates that over the next 10 years the country will need 75,000 leaders who can work effectively in global environments, to match the global aspirations of many Chinese companies. Today, the report estimates, there are only 3,000 to 5,000 such managers.
Source: Daily Telegraph