I don't buy the long range predictions of pilot shortage. I was in China last year. I have many friends in Asia and India. Yes there is a shortage of pilots now, namely PICs with time, but that won't last. The Chinese and Indians have lots of pilots in the stream, but very, very few with any experience. That's where the expats come in. I was told by one of the Chinese captains that they didn't think they'd need many expats beyond 2016. If you look at the Asian recruiting websites, there are more DEC jobs than FO jobs.
To put a different perspective. China is choking, figuratively. Their GDP growth rate is below 10% for 2 years running, and it is doubtful that it will increase much. There is growing middle and upper class willing to spend money. However, they want more, and it's not coming fast enough. The government under Hu is quelling decent. We'll have to wait and see if Xi fares better. If you've flown much in China you'll find that airspace is limited. Airliners routinely fly in the lower flight levels. The military controls ALL of the airspace, and I doubt they'll give that up. It's a similar story in India, but more corrupt.
In spite of all that, opportunities are better overseas in the near term. I don't think there will ever be a pilot shortage in the US. Only a shortage of pilots willing to work for poverty level wages.
