Also, keep in mind that companies like Cisco are probably going to see most of their growth by selling overseas. It makes sense that a certain percent of their development would be done over there.
engineering is going to become a boutique profession in the US - smaller numbers of people from only the top schools.
the only thing keeping programs in the mid tier schools afloat - is matriculation of foreign nationals. once those countries have a chance to build up their own programs in those fields, those students will stop coming here, and you will see those mid and lowe tier US programs close up shop. I guess they can teach "real estate flipping 101" as a new degree program.