Bacow also met with Chinese President Xi Jinping to discuss the importance of learning and of cultural and educational exchanges.

While the Schwarzman Scholars Program is the first scholarship created to respond to the geopolitical landscape of the 21st Century, a Jack Ma Scholarship for Global Youth would be a solid investment in our collective future.

In its attempt to woo foreign students to its top universities, China may be missing the mark on productive educational exchange.

Enduring wage disparities and outdated and imbalanced tax structures are seen as contributors to growing inequality, where neither the U.S. nor China are immune. Business, government and civil society leaders must come together to ensure the quality of education is improved to meet the demands of a technology-driven knowledge economy.

In 2017, 10 million Chinese high school students compete fiercely for college entry. At the same time, as many as 7 million college graduates will enter the job market. Without appropriate measures to be taken, the employment of college graduates could become a problem causing big headache.