It is difficult to read this and believe that exchange rates are not seriously out of whack.
[ . . . ]The other point? Americans often wonder if the Indians feel the pain and worry of Americans losing their jobs to cheaper workers elsewhere. They do. They’re deeply worried about low-priced competition from the Phillipines.
So what happens when there’s no place left to send the work to?
If I’m reading this right, the nations/regions reaping the benefits are former colonies (India, the Phillipines, in this example) who are leveraging the educational and other infrastructure benefits they inherited. And why not? But what happens when the industrialists run out of cheap labor pools?