China: did education become a mere commodity?

"We are a private enterprise and not really a college. Strictly speaking it is a company. We attract the students, get their fees, and send them on their way. We don't teach them anything and the college doesn't care"

Wang Zhenxiang, a Chinese college young teacher

BBC Education Education - Why Poverty part 1/4 (China)
http://www.youtube.com/watch?v=Y7T8vb9h-nE