Have cake and eat it too
It seems that some tech executives want it both ways. In a Washington Post article that was reposted on Yahoo, the CEOs of Intel and HP complained about the lack of focus on engineering and mathematics in US education and then made the case that their companies (and others) are doing the right thing by moving jobs offshore.
Might part of the decision making process that goes into selecting to study engineering be the potential rewards? If the jobs market in a specific sector looks weak, then people will choose to enter other professions. I'm not a protectionist and I don't really think we would gain overall by precluding offshoring, but the signals given by the market right now are definitely not encouraging people to gain technical skills.
People respond to incentives. If there are no entry level jobs in technology because many have been sent offshore, then people won't choose those careers. Since careers are path dependent (i.e. you build skills as you go), this implies that down the road, the majority of the experienced technical people will be offshore as well.