The world today is undergoing major changes unseen for a century. On the one hand，international relations have been severely impacted under the influence of unilateralism and protectionism，and the global trend of studying abroad is shifting to open regions；on the other hand，the unexpected global pandemic brought the severe challenge to the development of global student mobility which has been significantly affected by politics. From the perspective of the development of the global student mobility，Brexit will have a large impact on studying abroad in Europe，including visa，tuition and employment policies. All those aspects will affect the enthusiasm of students from EU countries to study in the UK；the United States is still the most popular country for foreign students to study abroad，while the question if the Biden Administration can be successfully save the industry of American study abroad still need to be further observed. It is more difficult for Chinese public-sponsored students and students in certain technical fields to study in the U.S.，and the enthusiasm for studying in the U.S. continuous to decline. However，as the demand for Chinese students to study abroad is generally stable，the distribution of countries and regions where Chinese students studying abroad will become more diverse；the construction and development of the Hainan Free Trade Port，the Greater Bay Area，and the free trade zones such as Beijing and Shanghai have brought new opportunities for sino-foreign cooperation in education. “Studying abroad at home” may become the new trend under the influence of COVID-19。From the perspective of the impact of the epidemic on studying abroad，the development of studying abroad with cross-border mobility as the main feature is facing challenges，and many universities cut the budget because of the reduction of the number of international students，due to the spread of the epidemic and the impact of epidemic prevention and control measures such as visa restrictions，boarder controls，and flight reductions. This dilemma would impel more universities to participate in the competition of attracting international students. This may be a window period for students to study aboard，while the pressure of competition for the top universities in the world would increase. Based on the perspective of the development of overseas returnees，the number of returnees in China continues to increase，the international talent pool is further expanded，and the enthusiasm for the development of returnees is higher，the attractiveness of new first-tier cities to returnees continues to increase. The report also put forward relevant policy recommendations from the perspectives of top-level design，the destination of studying abroad，Sino-foreign cooperation in running schools，Chinese international schools，the protection of the rights and interests of overseas students，and the development of overseas students returning to China.