This article shows that programmers in China with three to five years experience cost $12.50/hr compared to their U.S. counterparts who cost $56/hr. What is interesting is the
ensuing message board. Here's a quote from the first post:
"American programmers are still the most inspired and creative in the world."
I remember a quote from the instructor of my first C class, "All programmers learn from those who came before them." As long as the U.S. can maintain the creative edge, everything will be fine. This is the process of natural selection as its best.