I think this applies if we take "low wage countries" as literally paying developers below the poverty line, which I think is far off base. Coders are still paid higher relative to the rest of the country, and certainly above the poverty line for most. Wouldn't make much sense as a career path otherwise considering the time to learn the job enough to do it.

Of course I'm generalising, but as someone in the 3rd world I'd only imagine this being different in literal code sweatshops.