What is known as knowledge economy is actually a knowledge-based economic morphology. It stands for the tendencies by which modern knowledge develops. So, any ignorance of that will result in the imbalance of the global knowledge ecology, and knowledge hegemonism. Furthermore, education is likely to face the awkwardness should the knowledge be absolutely westernized in the course of performing the education. Thereby the author concludes that for the sake of education in the time of knowledge economy, it is necessary to set up a proper educational philosophy, to develop a balanced knowledge structure, and to establish a distinguished knowledge system of the ethnic education.