I've told that to a lot of people a lot of them get highly pissed about it but a high school diploma is more than adequate for many professional careers.
In many cases, this is true. However, if the environment has a lot of innovation, you will find engineers going 'back to the books' if some technical legerdermain is required for a solution.
The bigger outsourcing risk is in areas where products don't necessarily make quantum leaps, and much of the engineering can can take place using establishe specifications, agency codes, Mil-Specs, etc.
Would I recommend such a career as a first choice now? Probably not. Not a lot of appreciation outside the field ( at least until there isn't a product to sell, or resolving a problem requires some actual insight that comes from a technical education ), IMHO.