Comment by Gagarin1917
3 hours ago
Yeah there are MAJOR reasons that a huge amount of Chinese scientists immigrate to the US every year, but almost no US scientists immigrate to China.
These are smart people, they’re not going to make major life decisions based on simplistic takes from political opportunists.
US has/had the best schools in the world. US provides/provided remarkable academic independence (tenure, etc). US provides/provided the best expected economic return to foreign scientists.
As we dismantle those components via xenophobia, anti-intellectualism, funding cuts, and so on, trends will change. Already I see a substantial uptick in my PhD/Academic friends moving to Europe as we cede our historic advantages.
If, in say 15 years, China provides better schools, or better economic returns, or (perhaps unlikely) better independence, or all 3, then scientists will go there.
The reason is money. The US has the world reserve currency which basically means infinite money. This will soon end and China will have the world reserve currency.
It will not end soon nor will China "have the world reserve currency". The primary reason is China doesn't want that "reserve currency" because they have to run structural deficits to support it, which is counter to their export-oriented economy.
A reserve currency is just a currency that central banks and other important institutions hold in "reserve". The Euro is a reserve currency, as is the Yen, Pound, and others. The American dollar is the primary one, and that usage will ebb and flow over time, but it's arguable that no longer being the primary one is a good thing as it will make American exports more competitive among other things. I don't think I agree but folks have very reasonable and competing takes on this.
The world also isn't going to adopt a Chinese currency as a reserve currency either because China would have to make liberalizing economic reforms which would run counter to the control that the CCP has over the country (why people keep forgetting that China is run by an authoritarian group is beyond me but whatever) and so they won't make those reforms and the world just won't adopt that currency.
Its also close to impossible to immigrate to China. I've checked it out myself since I'm really impressed by the work Huawei is doing with high density wireless nnetworks. HK was an easier (still difficult) path, but I haven't checked again since it changed hands.