The qualified staff crisis

China's dazzling economic growth might get off track because of the dramatic shortage of qualified staff, the Economist quantifies. The shortfall: 2,200 new pilots a year. China has fewer lawyers than California. China is short of 160,000 GP's. About 75,000 new business leaders are needed in China in the coming ten years.
And the good people are still running away:

China is even suffering from something of a brain drain. In recent years the Chinese have been able to travel abroad more freely to study and acquire skills. But many do not return. A recent report by the Chinese Academy of Social Sciences found that between 1978 and 2006, just over 1m Chinese went to study overseas and some 70% of them did not go back. The brightest are often tempted to stay abroad by local employers, because the competition for jobs has become global.

The article says that pay-rates for senior staff in many parts of Asia are higher than for similar jobs in Europe. I have seen no evidence of that (and the Economist just states this as a fact) and until recently at least in China MBA-graduates with some experience earned much less than in Europe and the US.
Much more at the Economist.