Looking at how weak the US dollar has been for several years now, coupled with the fact that our government is printing money like crazy. I think we are the becoming one of the LCC's (Low Cost Country) in the world. This trend is both good and bad.
The good is that there should be manufacturing jobs returning to the US - slowly that is. Also, I predict that the manufacturing jobs will grow faster in "right-to-work" states where labor tends to more competitive, cheaper and business friendly.
Oh course there is a price for having a competitve world currency which is a lower quality of life and our pocket money goes less distance as we will not have access to cheap overseas labor to build and sell us inexpensive stuff.
We will have to pay American labor prices for our stuff... That's right folks, outsourcing to cheap labor is why we havea high quality of life and cheap stuff.
Another interesting read from the Wall Street Journal
This is actually a very good topic to discuss since this is really something that is undeniably happening in US as well as in different countries. There is the advantage of passing the labor to third world countries to be able to elicit cheap labor so that companies can save up on labor costs but then there are a lot of pros and cons that some people find necessary to consider. although outsourcing especially call centers nowadays really help build jobs for the 3rd world countries which is sort of a way to help them but then locals would have lesser job opportunities for themselves.