Yes. Even then, a lot of the tech jobs remain in the US.

Look at the job listings for US tech company EMEA HQs. It's almost all sales and legal. Occasionally a pre-sales Engineer position comes up.

Meanwhile, they are hiring dozens of Devs at their US HQ.

Anyone who has worked with remote programmers, unless they happen to have hit the jackpot on them, really has no desire to ever do it again. Timezone differences, language differences, cultural differences, communication differences, etc, etc, all combine to chew up so much more time and money than the nominal savings of hiring someone local. And the good remote people don't cost appreciably less anyway.

After a decade or so working remotely I'd describe that differently. If someone working remotely finds a company with culture where remote work is fully functional rather than something odd that people have to work around, they hit jackpot. Unless everything's documented online, every meeting is online, every water-cooler chat has a link published, etc. then remote work is going to suck for everyone.

You seem to be agreeing with the parent. Large timezone differences, cultural differences, and language differences can be real remote challenges. (Although, in my experience, US--at least ET--to Europe works pretty well. Takes more to coordinate Asia in general and probably want to minimize the amount of synchronous communications.)