And I still don't understand why. I expected it when I started my career, and here nearing the end it's still really rare. And it should have gotten easier in that time, what with the Internet.
Time zones and culture and language and all that, I suppose. But the world is full of very smart people who have a decent grasp of American and European culture, and would work for a tenth the price.
It depends what kind of a company you work for. Something like a bank with a lot of boringly tedious stuff on top of procedures will have quite a lot of offshore contractors. They don't even have to be very smart, because truly smart ones decide to move closer towards the source of the moneys.