I agree with Redleg on this. If you raise the standard of living in other nations it will improve things for all of us long term. However, there are caveats. If the standard of living of those on the other side doesn't rise, or if we don't maintain a technical edge (research and development) then we will eventually end up earning closer to what they make now...and that is a very bad thing.

That is why I remain so concerned about the lack of focus on basic research, and funding for development in the U.S. by both govt. and industry. We are running our economy like a cash cow, continuing to scale back research. We are not reinvesting at a strategic level. You can get away with this for a time and appear to be doing great, but eventually you end up with a mature product that folks don't really need anymore, or are not willing to pay much for. Short term gain, long term trap. You can then find yourself following the lead of others who did focus on researching appropriate areas for growth.