Yeah that's what I did, I sent one to each of my satellite sites and it's covered me at least til midgame where I am now. Worst case, one gets damaged and is down for 5 days but I've never had a UFO attack in that same territory again.
No, go to the Hangar and transfer one of your current jets to Asia.
I chose europe as my base then after a couple of missions I sent a satelite to china as the panic level was 3 bars. It said I didnt have an interceptor in that region, does this mean I have wasted a satelite?