Best country to do MBA in current world economic crisis ?

Your analysis is right on. I can provide a perspective for US and China.

USA: For general management roles, it is more difficult to get sponsorship because it is hard for the company to prove to the US government that they can't not find a more qualified American to do the same job. However, that is more true in the traditional industries. Tech companies do sponsor H1-B visas, so I think you will have less of a problem there. I know IBM and Google both sponsors.

China: The language issue is not a problem if you are recruiting for the multi-national corporations. Recruiting for the multi-nationals does narrow down your search a bit. However, there are still plenty of opportunities, as the economy is growing rapidly and there is a huge demand for MBA. I feel that the education at CEIBS is on par with the top 25-40 US b-schools.

[*] The ease of obtaining a job in US and China for international students are about the same. I would even speculate that it may be slightly easier in China, because the demand is so high.
[*] The post-MBA salary in the US is about 1.5-2.5X times higher than China's, currently. As you know, the wages are increasing at a rapid rate in China, and the Chinese Yuan is getting much stronger, thus the gap is constantly closing.
[*] The caution is that the work load is higher in China (emerging market in general). I believe that the career progression is potentially better because as Chinese companies are expanding and going more global, senior level positions are opening up. The pipeline just isn't there.