China’s Biggest Ponzi Scheme: Millions of College Students Support Many, Yet Graduate Unemployed

.

The female student’s comparison of Chinese education to a "Ponzi scheme" is quite fitting. The expansion of universities created a scale effect, but the quality hasn’t kept up. Outdated PowerPoint slides and students watching videos in class reflect the formality of the education system. Meanwhile, the "economy" surrounding universities, built on the anxiety of graduates—such as exam prep agencies, study abroad agencies, and even printing shops—magnifies the absurdity of it all. Education no longer seems about knowledge; it’s become a way to delay employment pressure and maintain social stability. These phenomena only deepen people's skepticism about the value of education.

.