David,
You want to provoke thought however your thoughts are not original and prove you have no knowledge of how our industry works.
"If Cathay Pilots are the amongst best in the world then surely they can obtain gainful employment elsewhere."
Ever heard of seniority? We can all gain employment somplace else but then have to spend another 10 years getting back to the starting point.
"What is apparent is that across the world all airlines are trying to save money. Some are doing it by reducing service to its passengers and others are doing it by cutting employee fees. Some are doing both and more."
Cathay has cut so much that they have generated a record profit - but at what expense?
"Cheap good pilots are available, they are just harder to find."
Which goes hand in hand with - You pay peanuts you get monkeys.
I'm guessing that when you go for open heart surgery that you ship off to some third world country because the doctors there are paid less even though they have the same basic qualifications as your local expert.