@EStz - it (3rd world workers) starts out as bad as you describe. But as soon as enough companies are doing it, the supply of workers starts to get cramped, and employers have to offer tiny wage increases or inexpensive benefits. After a few decades, the formerly 3rd world workers are too expensive to work with overseas, and companies move on to another poor country. See India and China (manufacturing is starting to move out of China as wages have gotten higher and there are more pollution regulations). This is good.
It does tend to stay bad when there is some abusive government confiscating any increased earnings.