The best talents globally are going to be paid at a rough similar level outside of the big tech giants.

As we go forward, the monetary gain of outsourcing is trending down, it's already less worth it than 10 years ago.

Remote working plays against outsourcing in my opinion, nobody wants to be underpaid, including talents in lower cost of living areas, what was a local market became a global one.

And then those countries are also developing as well, reducing the gap every year.

Both effects together are very powerful against outsourcing.

I don't think this can be true. An employer has to follow labor laws pertaining to the country of residence of their employees. Typically some sort of legal entity has to be established in those countries.