No, this is not correct. WLOG means: I assume one of the possible cases, but the proof works the same way for other cases. But that's not true here. The proof, as shown, only works for a>b>0, it does not work (without extra work or explanation) for a<b. The proof for a<b is similar, but not the same.
[And it certainly does not show it for a,b element of C]