The bitter truth is there's no competition here for the likes of Chao and Yang, except for the big guns like Archer, Strickland, Morris, etc, and they fly to Taipei several times a year to play in the tournaments there.
As the last WPC clearly illustrated, the talent in the east runs very, very deep, with qualifiers from Taiwan 2 of the last 8 players, and one unknown (even in Taiwan) snatching 2nd place. If they want a change of pace the Philipines is just a short hop over, and they have untapped players that will play anyone for any amount, world champion or not.
BTW, Chao is not some new face on the pool scene. The guy won 2 world championships, and one incredible challenge of champions against busta. That last rack is the single craziest run I've ever seen.
-Roger