I think that EEngr says what I have thought - as an outsider. I have worked in commerce since 1978 and first saw outsourcing in 1988 at the HQ of the American merchant bank in NYC for whom I was then working in telecommunications. I did not like it then and nothing has substantially changed my mind.
BUT the current fashion in mgmt is spreading globally and must run it's course. One can easily understand that a big corporation can throw away 30 years of progress in pursuit of more profit, because lots and lots of companies do it all the time. Of course they think they are making things better and often act in good faith.
The UK goverments of the 1990s and 2000s made a hash of things - when they started outsourcing functions and making policy with too many mgmt graduates, rather than people who actually understood the job and the circumstances.
The financial crash of 2008 was but one consequence of this kind of thinking but it's way too late to stop it now. Like most things in humans, it will run through.