This will not work until unions deal with the reality of globalization, and push to form a worldwide union, which ensures compensation has no more than 2x difference based on one's country. This is the multiplier where people will not want to transfer work for cost vs skill level.

This is unpalatable to HCOL engineers, because their pay will significantly compress in this union to support the growth of compensation of similarly skilled LCOL regions/countries.

QED: Unions will not happen.