The biggest problems we face as an industry, are neither

* falling American dollar
* raising salary
* lack of quality resources
* reverse wave of 'Flat world' effect - yes now, Accenture, Capgemini, EDS, etc are very much an offshore company, and can offer the same so called 'Offshore benefits'.
* recession in American market (every now and then)
* nor next quarter outlook

the actual problem is much more fundamental, it is about

* lack of quality
* lack of skills
* lack of leadership
* lack of good business acumen
* hostile working conditions
* high attrition rates
* unethical business practices
* unsatisfied customers (more importantly)

unless we accept these issues and address them in a meaningful way , there is no way offshore can survive.