I think that most of the damage in electronics has already been done, Joerg. We're at a point where the Internet provides incredible opportunities to study and learn even very esoteric bits of engineering that would have been nigh impossible (or at least incredibly time-consuming) even 20 years ago, yet only a tiny fraction of those studying to become EEs take advantage of it as a means to improve the quality of their work beyond what is strictly required of them in a classroom or workplace setting. Hence the primary remaining concern is that those aspiring EEs in China or India or Botswana aren't yet quite as dumbed-down yet as the ones in the US today and hence there'll be fewer and fewer EE jobs here.
That being said, at least when I was in grad school, the Indian and Asian students I knew really weren't that different from the white kids from the U.S. -- most of them were more interested in just getting the sheepskin than in becoming top designers (and apparently some of the female Indian students were planning to use their EE degrees as a means to being able to go back home, work for a couple of years, get married, and drop out of the industry entirely -- the degree was primarily a means to gain access to more desirable guys... whereas for the rather small number of U.S. woman in the program, that didn't seem to be the case...).
Hey, don't cars with automatics generally get a mile or two per gallon better mileage than manuals? ;-)
---Joel