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That's why I conditioned it with "if", it's a trend in progress. Opportunities are still great abroad, especially in SV. But part of this is due to past generations being very drainable due to English proficiency previously emphasised in curriculum to increase knowledge transfer from abroad. Sending talent abroad who may come back (trend increasing) and learning academic lingua franca was a good strategy. But in the last few years we see PRC moving away from English, project trend forward 5-10 years that means generations without previous levels of English fluency has much less chance of "best" being drained away due to lack of ability to integrate in western knowledge ecosystem while domestic ecosystem sufficient to retain and grow talent. If many/most of the top papers in X field are written in Chinese, less need to learn or even publish in English to stay competitive, and indeed language may become a competitive moat. I don't see many in western institutions trying to learn Chinese to stay competitive, and even hiring Chinese may become an issue. This is already happening. Yes some good/great talent are and will continue to be drained to SV / west, but they're unlikely to be best, unlike in the past where the state deliberately sent best abroad. Some of them are top tier, but being so + not fluent are increasingly common. Same reason we get lots of "good" PRC students manning tier1 academic labs in the west. It's symptom of generating overabundance of talent. Even 20 years ago, many of the PRC students in tier1 labs I knew weren't really top 1% or even 5% students. They're smart enough for the western institutions and their family can afford to send them abroad. But many will admit much smarter folks stayed in PRC because they didn’t have resources to leave. The result of that is reports like this. Wasn't until the last decade that domestic opportunities have exploded, still not matching supply of talent generation or compensation of the west, but enough that linguistically / culturally severing ability to integrate abroad will start to affect talent drain. Ultimately, PRC's lack of access to world wide talent is a disadvantage, but I don’t think it's * that * significant. Going forward, I anticipate and see signs of PRC language policies increasingly reducing the west's ability to brain drain, and they're already not draining overwhelmingly the best like pre 00s. Hence IMO indigenous talent pool at PRC scale will be enough. That may still be 100,000s of talent emigrating per year, but it's a single digit percentage and if it ever comes to it, sanctions / exit VISAs / bans on working in unfriendly countries just like US/TW block their semi engineers from working in PRC. The other point I want to emphasize is quantity matters as well. Quality is limited if (western) immigration caps still result to 5-6 digit technical talent shortage, still need tons of B tier bodies doing the grunt work. That's where PRC has advantage, IMO oversupply of talent better than undersupply. |
I don't see that happening for a long time. Very few, if any, kids are turning down MIT to go to Tsinghua instead, and once they are abroad in the states to study, if they are in STEM (ignoring the non-STEM kids who go because they have money), they aren't going to come back unless they get access to some crazy resources. What we settled for in our Beijing Research lab, at least, were some under the radar talent with PhDs from Zhongshan universities, very good people, but even the Tsinghua PhD student (who isn't as good as the PhD undergrad) would go abroad even in the late 2010s.
The lack of worldwide talent hurts China in terms of practices and tech culture. It isn't just access to a wider talent pool, but cultural nuances don't really gets ingrained since you get your workers in the west from a wide variety of countries. China is also becoming less liberal, not more, and that can't help either in terms of retaining talent (under Xi, there are real risks to staying and raising your family in china vs abroad, and there is no end to Xi's rule in sight, things could get really messy without a planned peaceful transition of power). Finally, China's housing bubble has no end in sight. You think a million dollar town home in Seattle is expensive? Try 1.5 million for a two bedroom apartment in Beijing! Unless you can make ALOT more money in Beijing, why not work in Seattle instead? At least you can buy a house.
China is going to do OK with all of this, but I don't think they going to thrive as much as you think they are. They have a lot of big challenges coming up in the next decade.