With regard to what Chinese kids who aren't high achievers do... (I'm a generation above those who are at school now).
My family in the UK - working class, high educational expectations, myself and my siblings went to university and are all doing well in our chosen careers. Oxford and Cambridge were the expectation in our family. My dad is from a peasant family, had he stayed in China he would probably still be farming in his village, as are two of his siblings.
When I think of my Chinese friends growing up (not those whom I met at university), most of our parents aspired that we would make it to university and many of us did - a variety of universities and polytechnics. We now work across a variety of jobs, including teaching, accountancy, dentistry, marketing, project management, IT, engineering, sciences, HR, music. Some have gone back to HK or China to work. I don't think any of us have made it to doctor or lawyer status
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One friend runs his own business helping customers to set up catering businesses. I don't think many of us went back into catering, but I can imagine that this is an option for children who don't do well academically - to be part of the family business.
One friend got in with a bad crowd at school - his family sent him to Ireland to live with his uncle and worked in his restaurant for several years, then came back to work at the family takeaway. He now works in IT.
One friend, who was so brainy, was not able to realise his full potential due to family circumstances. He still lives in the house that he grew up in, with his wife and family. He drives a taxi. My mum, who taught him, always felt it was such a shame that he couldn't achieve what he was possible of.
My family in China (dad's side) - the generation above me (who are now "the elderly") were peasant farmers. Of my cousins, one has emigrated (eldest son, filial piety, just like my dad), one works in a bank, one in an office, one in a factory and one (the successful one!) owns a number of businesses. I don't think any of them have been to university. A similar story on my mum's side, although they left for Hong Kong during the Cultural Revolution (my grandmother was a great advocate of education and made sure that all of her daughters as well as her sons were educated), and I think they have mostly been through tertiary education. They are mostly working in administrative/management roles.