Yeah, and in the long term it has the potential to depress wages really, really low, because someone in, say, Costa Rica is willing to do the job for $30,000/year without benefits.

At the start of my career, 16 years ago, I spent some time abroad in a small country with some very distant family. When the topic of my career came up in conversation I remember multiple people saying that software engineer simply didn't exist as a profession in that country because there were no software jobs available there.