It is graduation season, and this year international geopolitics reach all the way into the world of higher education.
| | | Education's Unheralded Role in Trade | | It is graduation season, and this year international geopolitics reach all the way into the world of higher education. Early this week, China sent out a rare note to students, warning of the risks of studying in the U.S. | | This action seems to be part of the overall trade tension drama playing out between the U.S. and China. International students typically pay full tuition, which provides universities with the resources to offer financial aid to American students. As the dad of a couple of kids going to college soon, I can attest that those numbers get real. | | The figures from China, in particular, stand out. There are about 360,000 Chinese students currently enrolled in higher education institutions in the U.S., triple the number from 2010. They are paying an estimated $14 billion per year into the U.S. education system itself and spending at least another $3 billion annually on things like dorm rooms and other living expenses. That tally arguably exceeds the $16 billion China spends on U.S. aircraft, which would technically make higher learning the largest U.S. "export" to China. | | Watch the video | | If we can help you with any Foreign Exchange needs, please email foreignexchange@cnb.com or call (800) 447‑4133. | | Want to learn more about international finance, economics, and global events? Sign up for our other Foreign Exchange emails and videos! | | | | | | | Follow City National Bank on social media: | | | | | | Non-deposit investment products: | | • | Are not FDIC insured, | | • | Are not deposits or other obligations of City National Bank and are not guaranteed by City National Bank, and | | • | Are subject to investment risks, including possible loss of the principal invested. | | | | | This report is for general information and education only and was compiled from data and sources believed to be reliable. City National Bank does not warrant that it is accurate or complete. Opinions expressed and estimates or projections given are those of the authors as of the date of the report with no obligation to update or notify of inaccuracy or change. This report is not a recommendation or an offer or solicitation to buy or sell any financial instrument discussed. It is not specific investment advice. Financial instruments discussed may not be suitable for the reader. Readers must make independent investment decisions based on their own investment objectives and financial situations. Prices and financial instruments discussed are subject to change without notice. Instruments denominated in a foreign currency are subject to exchange rate and other risks. City National Bank (and its clients or associated persons) may engage in transactions inconsistent with this report and may buy from or sell to clients or others the financial instruments discussed on a principal basis. Past performance is not an indication of future results. This report may not be reproduced, distributed or further published by any person without the written consent of City National Bank. Please cite source when quoting. | | | | | | |
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