Shotgunner51
RETIRED INTL MOD
- Joined
- Jan 6, 2015
- Messages
- 7,165
- Reaction score
- 48
- Country
- Location
That mostly applies to teaching positions..
While in the field of basic science like Theoretical Physics,many top scientists usually care more about their work and less about money,they tend to value academic atmosphere more and likely to stay since the US is still in the league of its own in this regard. The salary China can pay doesn‘t matter that much
But in the field of applied science, when the reserchers wish to commercialize their ideas,they go where the market is.. In this case China is no less attractive than the US. Chinese companies are also more willing to give stock bonus to these high value returners and often make them millionaires. Again salary doesn‘t matter much.
I think China is doing just fine without giving much incentives on the policy level,the sheer economy size is a big enough incentive and attraction for the talents we need,not to say the Theoretical Physics is less important but China as a country playing catching up should know its priorities
Excellent analysis!
I think the 'return pull' is directly related to two variables. First the actaul financial/salary aspect and the second quality of life. The first is simple the second is lot more complicated. But for sure between these two variables pivots the destination of talent.
You are right, as @utp45 has said there are many motives, hence it is a lot more complicated. On top of short-term cash rewards, quality of life may include an open academic atmosphere, high job satisfaction, protected intellectual rights, job security, visible career path, and ease of doing business etc.
For example:
If you are a mainland Chinese scientist in US, have developed a tech and wants to monetize it, what's best path for you? You do have many options, one very likely is to file a patent in US for your IP protection, work with an existing US corp through your ex-colleagues/schoolmates, or you get money from a local USD denominated fund and startup a new corp. If China or another country is a huge market or supply chain, then you might go there and find a co-operation partner. As your business get bigger, you start to restructure your company internationally for tax planning, cross-border capital flow and talent/idea flow. In the end, these techs/inventions, these businesses, are considered "Made in USA".
"How fast" can China reduce brain drain, or even drain US? I don't know, hopefully soon! So "What are needed" for this to happen? My advices:
- The Education Department back out from micro management of tertiary education and focus on compulsory education, budget allocation, legislation support, supervision.
- Deepen legal reform on IP protection related agenda, from legislation, supervision to jurisdiction.
- Refine legislation to support growth of domestic PE, VC funds, and public market (i.e. Shanghai/Shenzhen Stock Exchange). Let capital play a more instrumental role in supporting tech development.
- Refine legislation on startup capital, licensing, valuation of intangible assets (e.g. IP), tax, cross-border capital flow. Less red tape, more efficient flow of business essentials.
- Refine legislation of censorship including internet, trade of tech services/ideas.
- Review immigration policy to address the concerns of scientists of Chinese or other ethnicites, and their family.