PTI, since I'm not Fedex but I think this is what Tony C is getting at.

You make $200,000 in China. Fedex pays the Chinesse taxes of $90,000. Your taxable income for US is $290,000 since your company paid the taxes in China. Expats get to deduct the first $80K or so of income, so you effectively pay US taxes simular to the the pilot based stateside.