I see a heavy discussion with a lot of opinions regarding to this subject.
I am working at Maersk Line in Rotterdam, in charge for the Asia-Europe schedules while in Europe, having frequent contact with the masters, officers and chief engineers, so I can comment on the difference between Asian or European crew.
I must say that there is almost no difference in quality. You obviously see a difference between a Danish or Dutch master who has been in the company (Maersk / P&O Nedlloyd) for a very long time with a lot of experience in the company, while a Asian master who perhaps just have been in the company for 1-2 years. But, this has nothing to do with the capability of managing a ship.
As everywhere in the world, you have high and low 'quality' employees, also on board, but this has absolutely nothing to do with the nationality.
Also would like to comment to the earlier post of CaptainTed, that the 800 sailors at Maersk are the victim of the crisis, well, as a Maersk office employee I can say that Maersk also cut a lot in the offices around the world during the last year!
To conclude, we, in the Western world, are just having bad luck our living standard at this side of the globe is more expensive compared to Asia or Eastern Europe.....remember the move of the shipbuilding industry: Netherlands was the shipbuilding country long time ago...they lost business to the 'cheap' Japanese...Japanese losing business to the Koreans, the Koreans are losing it right now to the Chinese and East Europeans....
Perhaps some day the circle will close and we will build ships again :-D