globalization forces

Headlines today in WSJ: Some in Silicon ValleyBegin to Sour on India

Labor wage-arbitrage is about to vanish for Indian firms in high-end skilled work. Companies such as Infy, WIT, SAY are facing a double whammy due to this:
a. On one hand, they have the rising labor rates
b. On the other hand, they have strong INR eating up their bottomline.

What's next?
Companies look to other offshore locations: Phillipines, Vietnam, Czech (I bet my money on it), Brazil, etc. Globalization forces are getting work from one low cost nation to another one.

Virtual work is also carried out and pretty well - check out this list/ranking of the coding market here.

What must one do?
Figure out what skills are sold at a higher rate and are untradeable. Create revenue streams in the same at places of the highest offered rates.
Along with this, always be in a nation of predictable (and preferably low) inflation.