The worldwide transnational flow of students has become the focus of attention for universities and policy makers alike. The economic growth of middle income countries with increasingly larger middle classes has boosted the demand for study abroad. At the same time，the 2008-2009 economic crisis led Western countries to implement fiscal austerity，curtailing public backing for higher education，forcing universities to become more interested in overseas students，who could serve as an important source of revenue. This development has been paralleled by the implementation of new scholarship programs for foreign students and shifts in related immigration policies as awareness rises about the usefulness of these migrants in developing new economic growth activities. As the world’s largest exporter of students，China has seen a rapid increase in the number of Chinese studying overseas in recent years，including not just at the university，but high school level as well. The destination countries for these students have also shifted markedly over this period，while issues regarding student integrity，drop-out rates，and racial quotas for study abroad have all become major concerns. Based on an of global and Chinese overseas study，this paper will provide suggestions on narrowing the study “deficit”，enhancing China’s soft power，accelerating the development of study abroad in China，and developing “study abroad bonuses.”