this post was submitted on 07 Jan 2025
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chapotraphouse
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Labor is already significantly cheaper overseas than via H1B visas. There are many influences on business location besides employment costs. For example, Disney is a high-profile abuser of the H1B system, and I hopefully don't need to explain why Disney might want to remain in the US, even if it means paying workers a little more.
It's true that there's other factors, but the scales are currently in a precarious equilibrium. Taking away one of the few remaining things that gives a marginal benefit to companies to keep operating in the US after 1970s globalization (read: rise of finance imperialism) is a more significant force in the direction of getting companies to set up shop abroad entirely, rather than replace cheap labor with expensive labor.