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It's actually good for the industry. Client lights X amount of $$ on offshore realizing it's not as easy as they thought and are willing to hand it off to an expert and pay them fair.
On another note, I outsource various parts offshore and the quality for front end work is actually very high. Better than many of the local developers.
It's actually a bit of a threat for junior developers and/or newbies looking for their first gigs.