More seriously, the issue boils down as usual to a measure of personal preference (and cost) and the reputation of a particular MBA programme in your native country. In general there does not seem to be that much difference in perception of American or European programmes in Asia. Top schools in both areas attract similar percentages of Asian applicants. Nor in the approach the two make to the region. Both Chicago and INSEAD, for example, have campuses in Singapore; the US-based AACSB International and the European Foundation for Management Development (EFMD) recently co-sponsored a conference in Shanghai. Schools from both continents are active recruiters of students from the region.

So, probably there is not much to choose between them. Though there is, of course, an alternative. Asia – from India, to China to Singapore and Australia and New Zealand – has some excellent business schools of its own.