Off Shoring is not new. I managed a team of 7 Indains (6 dev, 2 QA) in Hyderabad as contract workers (not company employees) in 2007, 17 years ago! Before zoom, slack, meet, teams.
They were great at what they did, they were cheaper than 8 US employees, but the relationship definitely had pros/cons that are not easily understood.
The biggest pro was actually the timezone, I could ask for fixes/features and when I came into the office in the morning they'd be done. The cons were many, including quality of work and efficiency.