Humanity does do not live in your idealised competitive global market. There is a very limited subset of US engineers who would relocate to China.
Dictatorship aside, the problem with Chinese companies is the glass ceiling. It is pretty much impossible to make a career there as foreigner. Very much unlike the US and EU.
I am pretty sure, you have zero chance as foreigner to make great career in EU. Though EU is big and diverse. About USA I don’t know. First thing I see is a big problem with visa.
Its the same everywhere minority will always have a ceiling or a stop on their ambitions. And off course there will always be exceptions everywhere.
But now with the growth of Chinese companies, this becomes an 'adventure' not so different than accepting a job abroad, wherever that might be.
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