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I definately enjoy reading various takes of the global economy and its impact on the software industry.

The article is wishful thinking.

in part wishful thinking, in part truth.
Cost of offshoring is going up because of increased rates, and quality indeed is not going up.
But the tendency to offshore everything isn't yet declining sharply due to corporate decision making sluggishness.
Many (large) companies decided to offshore years ago on a glacial schedule which is only now coming to full execution.
Once such ships are set on their course there's no reversing them until it is too late.

It's rare to see a balanced article on what is usually considered a sensitive topic. +1.