The Implications of the University of San Francisco Accepting Gaokao scores.

The University of San Francisco has announced that it will admit a limited number of students on the basis of their scores on the Gaokao, the rigorous Chinese national university entrance exam, plus an interview and English language test in Beijing. The candidates will be spared the necessity of  taking TOEFL prep courses and flying to Hong Kong or Singapore for the SAT test.
 
American and British universities are running out of students capable of taking tertiary education courses. Average cognitive skills of local students are stagnant or declining, which explains the obsession of universities with finding students from overseas to bring in revenue and balance the books. China appears to have a large number of students capable of high achievement in numeracy-based fields.
 
What would happen if American universities found that Gaokao scores were more predictive of academic success than a dumbed down SAT? What if the English language component turned out to be just as good a measure of language proficiency as IELTS or TOEFL? The consequence might be that the Gaokao could become the normal route for admission to universities outside China.

And looking ahead several decades, what would happen if the Gaokao was offered in languages other than Chinese with test centres being set up outside China?