My former roommate is case in point: Intel moved his entire R&D department to Nizny Novgorad...minus the Americans (about half the people). He stayed at Intel only because he moved to Portland and into a support job. No R&D for you!!
I've also spoken with quite a few Russian-Americans and just plain Americans living in Russia, many went there when IT busted here and have stayed there either working for local, international or their own companies.
A similar thing is happening in India with not just Indians heading that way but also white American engineers. They might only make $6K a year there but its like making $100K here and there are plenty of jobs.
The problem with many analysist is: 1. they live in yester-year and view things from that prism and 2. most talk about things they learn about from other analysts and so on, rather then going first person and finding things out for themselves.
That's not a problem at all. Just normal way of human learning: most of the things one knows, he knows second hand. Otherwise one would find himself with the extreme solipsists (usually they are 9 years old kids) who believe that only what you've seen or touched yourself is true or indeed exists. Or that anything you turn your back to immediately disappears (and comes into existence again when you face it).
Also, if one knows just the current situation, but not the history of the problem, one hardly deserves to be called an analyst.