Nobody denies it. Again is the offer and demand law. Probably high delocalization brought new jobs which ended up and saturating the market and growing salaries to fight for the very same talent pool.

Something similar happened in Ukraine. I had friends in Europe that were running companies in there till when the wages became comparable to the original country. They still kept the Ukrainian office but eventually reduced the growth in favour of other locations

Well in early 80s the whole country went on a strike and there was a martial law for 2 years. Low base effect.