Expat here, although I have my own business and am not employed by someone else. The article makes some valid points. If an American investment bank in Shangha

Expat here, although I have my own business and am not employed by someone else. The article makes some valid points. If an American investment bank in Shanghai only wants a bright number-cruncher with a top-tier MBA, it definitely doesn't need to import one from the US or Europe. There are plenty of MBAs in China who can be put through the investment bank grinder. But the article totally dismisses the factors of culture and foreign know-how. For some roles, having a well-educated local who speaks English (or a foreign language) isn't enough. Instead, some roles require highly specialized knowledge and experience that isn't common in the local market, and a way of thinking and doing things that is uncommon (or non-existent) in the local market. In other words, you bring in a foreigner because a foreign way of thinking and doing things is what is needed.