Or the E-3 visa [1], which give citizens of Australia 10,500 indefinitely renewable visas each year.

[1]: https://en.wikipedia.org/wiki/E-3_visa

Totally agree with you. H1b visa combined with the green card backlogs are meant to systematically keep immigration of Indians and Chinese citizens disproportionately low.

Many countries have agreements with US that allow their citizens to work without the hassle of h-1b

Sadly, because of the clout Indian outsourcing firms have in filing the number of h1b applications, most people think Indian outsourcing firms are steeling jobs.