Roadtrip,
Let me correct you a little. First off, most US pilots "don't want" to work in Europe because they might have to learn another language and to get a JAR licence, which apart from being expensive (some U$ 140.000) also requires significantly more studying and takes a lot longer to obtain.
Can you explain what is so protective about the JAR license ?
. All that is required is brainpower and determination. Everyone is treated exactly the same way, whether European citizen or not. Unless of course you feel that you should be given one without any effort. (which would be completely Un-American...)
After all, years ago when I went to the US to get my US ATP, the tests were held in English and not in German, French or even Spanish. However, compared to the tests I had to go through in Europe, the FAA tests were a mere joke. I don't want to downplay the US pilots in any shape of form, but the basic ATP license is extremely eazy to obtain. I do realize, that a lot of the training within the airlines (typeratings, etc.) compensates for some of the deficiencies, but I don't want to open a can of worms here.
The FAA should require IMHO a higher degree of education (bachellors degree, etc.) as a pre-requisite to get an ATP. This would probably help the US aviation over the long term.
I'm impressed with your geographical knowledge about Luxembourg. Congratulations!!! You might want to know, that Luxembourg, like all the other EU countries recognize each other's licenses in form of the JAR license and therefore is not dependent on Luxembourgish born pilots.
As such any pilot from any EU country can work in any other country, at least theoretically. (There is some form of protectionism within say Air France, Iberia, possibly Alitalia, etc. but that has less to do with nationality but more with the educational background, much like FedEx preference of ex-military pilots)
You might also be interested, that Cargolux could probably cover their entire country with the paper that was used to write the applications from European crews. No shortage of crews there.
As far as Cathay goes....I don't think there is a particular preference for US pilots. All of HKG has a large population of Ex-Patriates working there from every place on the planet - provided they can pass the HK CAD exams. The HK-CAD conversion terms for FAA licensed pilots are somewhat more, but fair.
Finally, I can only speculate about the reason why so many Foreign pilots want to work in the US. Mine is simply, because my family are all americans -me excluding- and that's all. (After all, I don't get to chose, where I would like to live as I'm constantly being overruled - being the minority at home - the only "alien")
Anyway, the cost of training is probably the main reason. Flying is much cheaper in the US than elsewhere. Once they obtain their FAA ATP, the options to get a job are quite limited to the US job market. I think you will find very few foreign pilots who have a JAR license working in the US unless it's at the majors. JAR license holders have simply better options in getting a much better paying job OUTSIDE the US, at least for the time being.