I believe the author should have explored another reason: English. One of the legacies of the British Empire is that a lot of the educated people in the world use English. Even in Europe, it is the lingua franca for business and academia. (In mighty Germany, the top institutions publish in English). I think the applications and work would have to be done in English for China to effectively attract global talent.
Correct The problem would be much smaller if they used a non-tonal language with a manageable alphabet or abjad (like Cyrillic or Arabic)
That's all well and good, but phoentic implies the other way around too. After hearing a word, you'll have to be able to write it. For instance, "kill", "sand", and the "shark" word in the phrase "shark" all have exactly the same tonal pronunciation, but with completely different ways of writing it.
And don't get me started on traditional vs. simplified.