To me the bottom line answer is YES,
I moved from Iowa to Atlanta in 2005. The company I worked for in Atlanta hired 150 contractors. About half of them were individuals over here on work visas, mostly from India. Within 4 years, they setup a shop in India and outsourced almost all of the AS400 coding and eventually most of the support. few of the local contractors kept their jobs.
I came back to Iowa and found out one of the companies that I worked for previously is having nearly all of the new development and code mondications done off shore.
I do agree with BigCat that without the mentoring I have received over the years, I would not be at the level I am at currently without it. I am very thankful for that. The difference between what we received and what we are doing is significant. My mentoring was personal. Done with someone sitting at my side and teaching me. It was a hands on experience. Now we are answering questions where many times we do not really understand what or why someone is asking them. Most times we never receive a response that a proposed solution worked. So we keep suppling more answers.
Stepping off my soap box.