Reality disagrees. If software development could be done in India, Ukraine or whatever your preferred third world country is it would be getting done there already.
There's a reason why developers move to one of a handful of cities to be productive.
Fair enough. Not everyone will leave their family behind, not everyone will get a visa. But the "rich shores" have a massive statistical advantage in terms of talent because they attract skilled people from abroad, with little migration in the other direction:
There's a reason why developers move to one of a handful of cities to be productive.