I think that Cajun has a point about equilibrium. The situation is not totally hopeless.
(1) You can move a call-centre to a low-income country, but to get people to work for you there you will have to pay them a little more than they are already earning. Their expectations will go up, they will want nicer houses more like they see/hear about in other places, and will (quite reasonably) demand more... and after a while you'll have to move on and outsource somewhere else, or face up to the fact that out-sourcing doesn't stay cheap for ever. Example: I gather Mauritian textile firms, oringinally one of the world's great out-source destinations, are increasingly inclined to outsource again to places like Madagascar, which have cheaper work-forces..
(2) If you outsource, you do lose some flexibility. Again in textiles, I gather it now makes some sense for European end-users to source from places like Portugal rather than cheaper southern-hemisphere economies, because fashion is so fickle that by the time a new style has come and gone, a boat has only made it half way round the world.
(3) And yes, I agree entirely, it doesn't help that the IT world was, for a time, flooded with managers who didn't have the IT experience to recognise a good IT qualification from bad, and applicants who had jumped on the gold rush and frankly knew very little about their subject. Those days are gone, but the aftermath is still with us...