The mobility of skilled labor is transforming the flow of knowledge around the world. As U.S.-educated engineers and professionals return to their home countries, they are turning what once was a brain drain into a two-way process of brain circulation. These professionals are transferring to developing regions the technology and managerial know-how that once resided exclusively in advanced economies like the U.S. This process is fueling the emergence of new centers of technology entrepreneurship and creating new competitors for Silicon Valley and foreshadows persistent global skill shortages in coming decades.
