In ten years time CX will have a number of FOs and SOs on local terms. CX's long term plan is to do a Singapore Airlines in respect of its crews.
Bear in mind that SQ has always intended to be a national airline, flown by nationals, eventually, with expats filling gaps on a contract basis, but the continual expansion has meant that expats have been employed since they first started.
SQ dabbled with overseas bases, it was foisted upon Operations by the bean counters but quietly dumped, where possible, not sure if they still have any o'seas based crew now. It certainly screwed up the rosters for those who chose to stay in SIN.