January 11th, 2010 | Uncategorized

Zhang gets flak in China for SOM donation

Though University officials were overjoyed last week to announce that Lei Zhang GRD ’02 SOM ’02 plans to donate $8,888,888 to the School of Management to help construct its new campus, Zhang has garnered criticism in China for not using the money to invest in education in his home country, according to a report Monday by The China Daily.

From the story “Donation to Yale sparks debate” by Ai Yang:

Opinions at home have been split in online forums since the story broke a few days ago. On pinggu.org, a forum run by Renmin University of China where Zhang was enrolled as a student of International Finance in 1989, netizens including alumni of the university have taken sides.

Some asked why Zhang, who graduated from Yale less than 10 years ago, chose an overseas institution rather than his Chinese university for the donation.

Click here to read the full article from The China Daily.

  • Charles
  • Helen Li

    It is entirely logical to look into matters that are highly unusual and inappropriate. Of course, it is the right for some westerners to say “who cares, it is money and we will take it” or accuse those who have qualms and doubts of being “envious, “paranoid,” “Taiwan lovers,” or heaven forfend, even “Stanford or Harvard groupies.”
    The voices of disquiet in China is understandable. It is frankly embarrassing and shameful to see a man who went to Yale for just two years to develop such a lap-dog mentality, panting for the recognition of an American symbol of prestige and power. We are entitlted to ask what is the real background of this man and why did Yale draw him so closely to its bosom. He is probably seen as a useful tool for Yale to obtain investment from China. In China today, 0.7% of the people control 90% of the wealth. Those in power have unimaginable clout and lifestyles, from killing off unwilling women, destroying entire families, receiving “kick-backs” from unlawful enterprises, engaging in criminal activies with total impunity, “fixing” their children’s crimes and college reports to special foods, shockingly extravagant expense account and with no thought for the future of China and her people. There are whole streets in China with expensive restaurants that cater to high-ranking party cadres. At night, you cannot move for stretch limousines ferrying those red fatcats to stuff their fat faces. In Los Angelos, London, Australia, and Hong Kong etc., they are snapping up prime real estates running into tens of millions pounds per shot. How did they get all those money? When there is absolutely no accountability and transparency ,there is no way of checking whether they are from legimate sources or not. Zhang made his money in China, from Chinese investors who operate behind networks of dubious and unverifiable nature. Under these circumstances, for Yale to engage with Zhang in this manner, and accepting such a huge sum from him is setting a bad example to many around the world who still hope that it is one of the last bastions of basic standards in ethical behavior. The communist modus operadi will corrupt everything it touches. If Yale has any sense, it would extend its pastorl care to a former student and advise him to donate whatever he can afford to Renmin Unversity and to the poor people of China.