China and India committed themselves to producing engineering and programming talent in the 70's, just like we did in the 50's after the Russian's launched the Sputnik satellite. I don't know much about the Chinese schools, but the Indian tech schools are the equal of most of ours and without the moral morass of "liberal PC-ism" that ruins many of our undergraduates. A Indian gradutes out of IIT or the schools in Pune and Bangalore with almost no debt load. The Indian college eduacation has been subsidized by the state.
They can afford to work here for peanuts. Our kids can not -- many graduate with huge debt loads.