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QS Meet MR. BRIC Jim O’Neill

On 11th March 2015, Dr. Christina Yan Zhang, China Director, QS Intelligence Unit met Jim O’Neill, ex Chairman Goldman Sachs Asset Management, father of the term “BRIC”. They enjoyed an interesting discussion on the QS BRICS University Ranking.
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About the Conference
This is the 3rd year of the annual China Business Conference, oragnised by the China-Britain Business Council. This year, it attracts 500 participants, most of leading business leaders who are working on the Chinese market. More than 40 topical speakers have been invited from McKinsey, Alibaba, Arup, UK and PRC Government, Oxford University, just to name a few. The event was supported by CBI, London & Partners, British Chambers of Commerce, Commercial Section of the Chinese Embassy, China Council for the Promotion of International Trade, The UK Chinese Business Association.
CBBC conference

Key topics cover:
Education, Innovation & Entrepreneurship
Healthcare
Liveable Cities
The Chinese Consumer
China Outbound
Visiting Britain – The Experiential Economy
Advanced Manufacturing

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Jim O’Neill on the Chinese Economy
Jim O’Neill is previously the chairman of Goldman Sachs Asset Management. He is one of the world’s most famous economists, who is best known for coining the term BRIC, which stands for Brazil, Russia, India, and China—the four rapidly developing countries that have come to symbolise the shift in global economic power away from the developed G7 economies.

Jim gave a keynote speech titled “Growth & China: Quality vs Quantity”. He seems to be very optimistic about the Chinese economy.

He argued that the slightly slowed Chinese economy is not a bad thing that might have concerned some. Instead, he argue that the Chinese economy currently stands at 7% GDP growth annually is mainly because “the Chinese government want its economy to slow down”. “The Chinese government is pursuing quality as opposed to quantity of growth”.

The Chinese economy has already slowed down in the past decade. However,”China’s economic growth hasn’t slowed as much as I predicted for the whole decade – yet.” And “China is the only BRIC not to disappoint”.

“Economically, at 7% growth, China creates another India every 2 years, another UK every 1 year, and another South Africa every 3 months”.

Talking about the role of the Chinese economy in the world, he pointed out that “the world economy in past 20 years has not slowed down that much than expected was directly a result of the strength of the Chinese economy”.

In conclusion, he proposes that he is very looking forward to 2016 when China would be hosting the G20 and he is keen to talk to policies makers in China to assist the sustainable development of its economy and hence the global economy.

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Jim O’Neill and QS BRICS University Ranking
It was not the first time Dr. Christina Yan Zhang, China Director of QS Intelligence Unit met Jim O’Neill. They met quite a few times before at various events. For example, 30th September 2014 Lecture with Gerard Lyons and Jim O’Neill, The New Economic and Political World Order: Challenges and Opportunities on 30th September 2014 at the 48 Group Club event.

Before his keynote speech at China-Britain Business Council China Business Conference, Jim O’Neill and Dr. Christina Yan Zhang had a discussion about the QS BRICS University Ranking.

Jim O’Neill was surprised that it was the Russian, rather than the Chinese government who sponsored the BRICS Universities Ranking! Obviously, Mr. BRICs believed that China was the one that performed best among the BRICS countries and ideally, they would be the one to sponsor a regional rankings like this.

Jim O’Neill was very pleased to read the QS BRICS University Rankings and happily took a photo holding the ranking supplyment with Dr. Christina Yan Zhang.
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(On 30th September 2014, Dr. Christina Yan Zhang, China Director, QS Intelligence Unit met Jim O’Neill at a 48 Group Club event with Gerard Lyons spoke on The New Economic and Political World Order: Challenges and Opportunities)

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QS University Rankings: BRICS to be launched in Beijing

The annual QS BRICS Conference will take place on the 18th of June in China, in Beijing. The 2014 QS University Rankings: BRICS will be launched during the opening session of the event. To register click here.  Join higher education leaders from Brazil, Russia, India, China, and South Africa to discuss institutional development, internationalization, student and academic mobility, academic recruitment and research collaboration.  Read more

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First ranking of BRICS countries- out 17th December

QS is to publish the first bespoke ranking for universities in the so-called BRICS countries next month.

Like its other regional rankings, the one for Brazil, Russia, India, China and South Africa will have measures and weightings designed specifically for the group of countries concerned, rather than simply representing an edited version of previously published results.

In order to make valid comparisons between more universities than have precise positions in the QS World University rankings, and to reflect common priorities in the five countries, the new ranking will contain eight measures. They will include the proportion of staff with a PhD and the number of papers published per faculty member.

QS has worked with Interfax, the Russian news agency, to produce the new ranking. Interfax was commissioned by Russia’s Ministry of Education and Science, earlier this year and chose QS to compile the ranking because of its experience with regional and subject comparisons. The ministry has ceded control of the design of the ranking and any editorial content. The results of the pilot study will be presented at a conference in Moscow on December 17.

The ranking has also been discussed with India’s Minister for Human Resources and Development, Dr ShashiTharoor, and the Education Secretary, Ashok Thakur. Both are encouraging Indian institutions to participate in and submit data to international rankings to see if such comparisons can help them.

Dr Juliana Bertazzo, Higher Education Policy Adviser and coordinator of the Brazilian project ‘Science without Borders’, as well as Dr Renato Prado Guimarães, Secretary General at the University of Sao Paulo, Brazil, were also supportive of the new project, which will highlight the strengths of the universities of these emerging markets.

More than 400 universities across the five countries have been assessed for the new ranking. Only the top 100 will appear in the initial publication.

The methodology will be similar to those used for QS’s regional rankings for Asia and Latin America. Academic reputation will be the most heavily-weighted indicator, but at less than the 40 per cent weighting it receives in the QS World University Rankings.

Ben Sowter, who is responsible for the exercise as head of the QS Intelligence Unit, said the results would be valuable because the five nations had comparable characteristics that led to the development of the “BRICS” term in the first place. The company did not intend to include other emerging nations with few similarities simply because it had the capability to do so.

Jim O’Neill, who coined the term as chairman of Goldman Sachs Asset Management, said this month that the group remained a valid point of comparison, although Indonesia could have been included. Between them, they already represented a bigger market than the United States and would play important roles in the future, he said in a speech in London.

QS is to work with the Indian Centre for Assessment & Accreditation (ICAA), a private accreditation body, on a separate evaluation of Indian universities to be published next year. Dr Arun Nigavekar, the ICAA’s founder and a former chairman of the University Grants Commission, said the aim for Indian exercise was to create a system that was “globally accepted, yet locally grounded”.

QS and Interfax Group to launch first BRICS university ranking

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QS has been appointed by Interfax Group, a leading information provider in Russia and emerging “Eurasian” nations, to produce the world’s first university ranking of the “BRICS” countries.

The “QS University Rankings: BRICS”, as the ranking will be named, has received support from ministries of education and higher education institutions around the world. As one of the most trusted independent university ranking organisations, experienced in both global and regional rankings, QS was Interfax Group’s natural choice of partner for the project.

The new ranking was fostered by Russia’s ministry of education; following Russian president Vladimir Putin’s announcement (May 2012) to have at least five of the country’s universities in the top 100 in global university rankings by 2020.

Interfax Group was chosen out of five bidders to launch two new pilot rankings. The first will include only universities from the Commonwealth of Independent States (CIS),the second ranking is a “BRICS” nation ranking, which will include the universities of Brazil, Russia, India, China and South Africa; this will be a joint project between QS and Interfax Group.

Zoya Zaitseva, project director for QS University Rankings: BRICS says: “The BRICS nations are investing heavily in higher education, research and development as they recognize that creating knowledge and nurturing talents is essential to fuel the growth of their rapidly-expanding economies. The new ranking will increase their visibility and allow these universities to become more recognized on a global level.”

Dr. Mrs. Indu Shahani, Member  of the University Grants Commission, India and visiting faculty member at the UC Berkeley and NYU Stern says: “I’m delighted to be associated with the pilot of the QS University Rankings: BRICS. There is a strong belief among academics that this will create a new benchmark for young students as well as help raise the profile and global visibility of good Indian universities.”

She adds: “BRICS nations are accustomed to research studies on economic and political areas but this kind of educational research initiative based is a first and should be well received by Indian universities.”

Results of the first QS University Rankings: BRICS will be announced at the Interfax and QS BRICS University Forum in Moscow on 17th December 2013 and published on TopUniversities.com on the same day.

Primary motivations for pursuing an MBA among applicants from emerging economies

The recently published QS TopMBA.com Applicant Survey 2013 provides a detailed insight into the attitudes, goals and ambitions of MBA applicants.  The global motivations for pursing an MBA program vary depending on the age, gender, economic status and the current years of work experience.

The main motivations for pursuing an MBA as listed by potential MBA applicants are improving career prospects, learning new skills and taking up a leadership/management position.
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HE News Brief 18.1.11

by Abby Chau

  • An academic paper entitled Ivies, Extracurriculars, and Exclusion: Credentialism in Elite Labor Markets is about to tell us what we assumed all along – elite businesses only recruit from elite institutions. A new study by a Northwestern professor says that top firms and investment banks only hire from the top five – Harvard, Wharton, Princeton, Yale, and Stanford. According to the report, applicants not from the top five go into the ‘black hole’ and are subsequently dismissed. The professor also found that it is not important how applicants from the big five perform whilst in the institution but rather the perceived prestige is what really counts.
    Full Story: Examiner

  • President Hugo Chavez has announced that he would veto a controversial new education law which would have given the government more control over universities. President Chavez’s supporters introduced several new laws last December before the newly elected parliament was due in office. The educational reform law would make universities comply with national development plans in all decision-making processes as well as changing the power structure for budgetary decisions. President Chavez said that his government was willing to recognise and amend mistakes. Critics are saying that the president’s hand was forced as opposition to the measure grew in recent weeks.
    Full Story: BBC News
    More: Wall Street Journal
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HE News Brief 27.07.10

by Abby Chau

 

From President Sarkozy’s higher education revolution to the second for-profit university in the UK in the last 30 years – here are this week’s news stories:

  • As governments around the world are cutting funding for higher education, French President Nicolas Sarkozy is bucking the trend and investing 1 billion euros into the sector. Under the new scheme, Sarkozy wants to revolutionalise the fledgling university system and make the les grandes ecoles, or elite schools, more accessible to poorer students. In addition, Business schools have started to merge, instigating criticism about how these schools and universities will be managed and made competitive.
    Full Story: FT
  • Pearson, which owns the Financial Times and Penguin books, is dipping their hands in the Brazilian higher education market. Having acquired Sistema Educacional Brasileiro learning systems business for 326 million pounds, Pearson is looking to cash in on the reported 2 billion valued educational materials market. With a romping 25% of Brazil’s 192 million people under the age of 14, Pearson expects to recover the invested capital by 2012.
    Full Story: Wall Street Journal
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HE News Brief 6.4.10

by Abby Chau

 

A few higher educational news articles of interest this week include:

  • Two Cuban medical students spoke at U.S universities recently, marking the first time in years such an exchange took place. They will discuss Cuba’s initiative to bring medical care to places around the world who need it most. Cuba sent 300 medical professionals to Haiti recently.
    Full Story: Washington Post
  • Israel is set for new educational reforms that will hopefully augment the availability and quality of higher education. Students will play a pivotal role in the proposed reforms.
    Full Story: Lariat Online
    Read more