I have the same resume and the same observation. The last company I worked for replaced its engineers with kids from India and a few from Europe. They were cheap, but couldn't make anything that worked.
BINGO! There's the problem right there. The bank I work for currently says they can hire five Indian's for the price of one American yet the problem is they cannot build anything that works and they don't know our systems.
Probably why they keep old (55) farts like me around. I know how shit works, still know how to engineer and design well enough that I can pass the coding off to someone else to do the grunt work (coding and unit testing.)
Not that I'm in a hurry to retire, but it's gonna be sweet when I do.