My own company, Oracle, has brought back quite a few jobs from overseas. The cost of doing business there is more than just wages. As political climates change in the foreign lands, so does the cost of doing business due to, violence, and other issues. The other issues that come up too include intermittent power outages. Some areas of the world have forced power outages, worse than California during the early 2000s. This puts a strain on the companies providing round-the-clock call centers, and other services. Then yes, wages go up. Not because US wages go down, but due to the cost of living going up as workers demand better pay. This is happening very quickly in India as their economy is catching up to the rest of the world, for example. Comparatively their wages maybe lower than the US, but they're still far more expensive than they were when the jobs first came over. So, many companies are now moving elsewhere including the old Eastern European countries, Ireland, and back to the US.
And finally, another issue that's really come up recently is the quality of the work. The off-shored jobs may seem like a cost savings, but when the quality of the work isn't there, is it really worth having to do things all over again? In many cases, foreign workers have no job satisfaction. Many of the them work in government sponsored forced labor factories at less than minimum wages. They bang out as many goods as they can for the lowest price possible. There is no quality control, and they don't care as long as they can ship as much product out the door as fast as possible. This is more of an issue in China where the manufacturing is located.
John
As a citizen of the United States of America, I was curious why our President Obama selected the CEO of General Electric to be the so-called "Jobs Czar," whilst a lot of GE jobs are being off-shored.