With the number of CS degrees produced from China and India alone each year, the evolution of slave labor is going to make the H-1B horror stories from the 90's to the present sound like fairy tales.
At what point does it make better economical sense to send a well paid project manager to oversee dozens or hundreds of engineers being paid artificially deflated local rates?
Looking at the STEM numbers, there will definitely be a glut of engineers. At least with an H-1B visa, they got a ticket to Disneyland.