Will Education Firm New Oriental Learn or Lose?

(Beijing) – Hanging high above a pedestrian lane that leads to the Beijing headquarters of New York-listed New Oriental Education & Technology Group Inc. are fluttering advertising pennants sporting the happy faces of English teachers.

Oddly, these pennants are not ads for New Oriental. They're instead promoting a competitor called Smartstudy, whose online service helps learners prepare for English-language tests.