Again, you'll get little argument from me, with perhaps one exception.

In an ideal world, all ESL teachers would have a degree in a related subject. If so, then that would make them a 'real' teacher, and one that could teach in their home country. Therefore why teach ESL in China (or other countries)?

For non NES, I can see why the requirement is a degree in any subject. It shows that the person has ability in English that is good enough to study for, and earn, a degree in a NES country. However, why that same rule applies to NES teachers is beyond me.

A NES who is fully qualified in TESOL/TEFL/TESL, but doesn't have a degree, is 'unqualified', yet if they go and study for a degree in ballroom dancing, then suddenly they qualify. It's kind-of ridiculous when you think about it.