My late update to this thread...
I think that as we transition to a global market, everybody will eventually find their place. For instance, the company that I work for has started outsourcing programming work to India... and since the majority of the people in my department are also indian, it's a natural fit.
What has happened, though, is that instead of having people here in the US doing the lower-level work, we end up doing more planning, designing, and putting the pieces together into the whole. Our jobs have transitioned from being lower paid code-monkeys to being the more senior engineers... so I can say that even with outsourcing of programming to india, my career has moved ahead. It's just natural evolution.
Of course I don't really care about my career anymore, now that I have HTG... pity I can't do it fulltime.