I live in Argentina, and here companies are crazy about hiring IT people, no matter what your skills are, and most of them do offshore work for the US, paying barely standard fees here and cashing big there.
Don't think have to say who wins and who loses with this practice.
Have been thinking lately about this and believe one solution would be to equalize developer fees 'round the world, rise the bar and compete on performance.
I know it sounds crazy, but have some ideas on things we could try to work this out. I'll post them here if you think it worths anything.