No. It absolutely holds and the lowest common denominator is not some argument that it can't be better. Supressing wages in higher income countries does not mean that the lowest income countries somehow get pulled up proportionally.
>The real reason is that the people looking at these jobs have no negotiating power whatsoever. They have no essential irreplaceable skills or experience, nothing that's hard to find on the market. All they have usually is the desperation to do any job to make a living.
My grandparents on one side of the family had jobs that required no (At least not after a good amount of training) essential irreplaceable skills or experience and had plenty of purchasing power. Glass cutting at a glass factory, rolling cigars, soldering on an assembly line. Their negotiating power existed based on the fact that they were good workers and would fuck off to a different factory or pressure trough a union. They did very well for themselves.
Now that negotiating power is gone. They wouldn't go to philips or so because philips doesn't manufacture here anymore. The equivalent jobs that can't be outsourced run from my experience mostly on imported workers from poorer countries who will be replaced the moment they demand better conditions. The effects of that supression on "bottom of the barrel" job leeches upwards into jobs that people perceive as higher status without many people noticing. After all those people that would have done them still go for a different job.