That looks like a speculation, and a justification that a less skillful local worker might want to use. There are all kinds of H-1B Visa holders out there. More, equally, or less skilled compared to the local workers - but they are invariably less expensive than their local counterparts with same skillset. That's why companies are using them. Low quality software has a cost associated to it as well in the long run, so we can safely assume that the companies are deciding what's financially best for them. It's equivalent to competition in any market. Same argument is used by the less developed nations when an American multinational company begins their business there and kills all small local players in the market. Then these local companies bring their fake nationalism/patriotism in picture, but with globalization it's bound to happen and whining about it is not going to help.

And your argument for full globalisation doesn't work for me. Should we send all manufacturing to a country in the Far East with questionable labour laws and regulations. I don't feel comfortable with that. Certainly not the level playing field you think it is.