This is useful news for many teachers in China. I know of a few such cases where schools were closed down, assets were sized and then those assets were distributed to teachers, and where teachers with visa difficulties were left in limbo they where assisted so that those teachers still had some options. Many times school owners in China think they have the upper hand or some kind of leverage on a FT. They are so wrong. Teachers that don't know any better might be taken advantage of, but those that know better or have some guidance or legal help can put the boots to the bad schools. In one case that is pending now a FT has already placed liens against assets of a school and may end up blocking the school from taking students abroad until those liens are lifted. Most of those students don't truly benefit from being abroad anyway for such a short time and if the sole reason for such travel abroad is for the school to make money and for the students to have face upon returning from some foreign country, then the school can afford to pay their teachers too. Reading today's news and seeing thousands of teachers being laid off might cause those same teachers to look overseas for work. They would not be best served looking in China, but even in China FT's have rights if they know about them. The days of the evil empires and cash cows that Chinese crap school owners once banked on are coming to an end. I enjoy reading about private schools being closed down in China and having all of their assets seized because they deserve it and those actions don't come as a result of their innocence. If you work in a crap private school and if they try and take advantage of you, sue them in China and sue them in your own country as well. In many cases your embassy can be very helpful in working with the local government to address the problems depending on which country you are from. No one should tolerate abuse from private owned schools in China.