i would like to see that happen but economies now a days so specialized and complex we have to pay our dues be cheap labor dumping ground like Asian countries. Only ways that happen is good infrastructure and safety. We do have the young labor force piece though
The problem with cheap labor, they won't spend which won't lead to market growth, it will remain stagnant, so that's why I say it's important to discuss the value-pie(expenses/revenues) with investors and advice them of our policy to create consumer base which will benefit them also as they can tap into more investment opportunities.
But this idea of cheap labor wasting time/effort and not spending becuz the revenues are concentrated with investors will lead to a 1% top scenario and 99% bottom of pyramid scenario, where-as the 'engine' should be how much you can shift from the bottom of pyramid to the 'middle engine' side.
A good economists know this and has to evaluate industries selected on their 'final finished good prices' and set up agreements, laws, regulations to ensure the revenues are being redistributed to the bottom so they can shift to the middle. This may seem bad at first for investors in the short-term, but in the long-term they have more opportunities to tap into thru a growing consumer class.