> What’s wrong with developers “overseas”

Often it's the culture and education system. Many cultures are very top down and everyone just says yes to whatever the boss wants and then tries to make it happen. The educations systems are often very focused on rote memorization. These translate to extremely poor software (among other things).

> why call them monkeys

It's a long standing term for people that write code but do little else. There has never been any racial undertone to the term.