Very good question.
Undoubtably CX will be losing more pilots as this fiasco unfolds before our own eyes. The utter ignorance of the HK government is astounding.
Cx has been digging its own grave. They have just gnawed away at everyones conditions throughout this pandemic. I am not a local HKer, if I was I would be very disappointed in this "HK company" as I am sure many are. Imagine my government giving a company 40B and they cut your earnings (future earnings by 40% PERMANENTLY)! But I guess some people are suckers for punishment.
Back to the question - I definitely think lots of pilots (expat and local) are looking for an exit strategy, and if they are not they really should be. Be it, if you are employed by HKE,AHK or CX! The shortage of pilots in the USA market at this moment is apparent, and we not even over the pandemic. Europe will be short soon as well because NEWS FLASH, the world is moving on!
ME carriers will be hiring from mid next year. Thats from the mouths of instructors in QR. Lots of airlines are waiting to see if the winter wave is anything to be concerned about, if due to the vaccines the death rates drop over the winter they will be planning a very profitable summer season. All airlines except HK and China that is!
Honestly before Covid many pilots in CX were talking about big money jobs in China for a few years and then retiring. I really think that China will have to pay people even bigger salaries now to get western pilots there. The way they have treated their western pilots at the start/throughout this pandemic is ....(you can decide for yourself). The way the are blindly trying to handle this pandemic is the biggest joke of the century! China will have a massive shortage of pilots in the near future. You can always go there... I know I won't for obviously reasons.
All of this is of course in my own opinion.
Good luck on your decision. Don't get caught with the handcuffs on in HK because trust me they are not golden anymore. Go where you wanted and where you enjoy living. I will be doing this for sure.