So which is which? Tons of colleges or doesn't want people with 'useless' degrees? Both are counterfactual.
But regardless, both of those answers still doesn't really address the primary question on the huge influx of Chinese students to Western colleges.
A. If there are 'tons' of colleges in China, why do hundreds of thousands still feel the need to go overseas?
B. If there isn't, and the Chinese government doesn't want it's population to have 'useless degrees' (honestly don't even know what that means), then by definition does that mean that if the average Chinese student goes overseas to say get a Psychology or History degree, he or she is considered 'useless' and therefore not welcomed back?