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when "the 'India-Advantage' evaporates" assumes that India and the US are the only two countries on Earth (and then, we could surmise, the jobs would indeed flow back to the US). However, since they're NOT the only two countries in the world, the correct assumption of the business cycle here is, "...as the standard of living in India improves, they keep asking for more pay and benefits. Doesn't take long for a Haiti-Advantage, a Brazil-advantage, a What-you-called-India(pre-offshoring)-at-the-end-of-your-comment-Advantage (a "country where labor is cheap, and also dumber than a bucket of dirt")---to form, and THAT'S where those call-center/tech-support(!) jobs are going next, not back to America as you suggested at first. You admitted where they're going next in your last sentence (can you say, "Sri Lanka"?)....