[UPDATE: Part of this post (the first paragraph) was missing before and has been added; we just switched to a new version of Movable Type and I had some trouble getting it to take my post the first time and lost a paragraph somehow.]
Instapundit has an interview which has some interesting plots at the end, showing the number of engineering bachelor's degrees granted in the U.S. versus China and other Asian countries. Check it out. China passed us sometime in the mid-1980's and the growth rate in number of degrees granted is much higher. The trend is similar for graduate school, and also for the natural sciences generally, not just engineering.