From my own experience:
US C / C++ programmer $90,000 to $120,000 / year
Chinese or Indian programmer $15,000 to $20,000 / year
A savings of $75,000 to $100,000 / year with one project taking several programmers on a product that makes less than 5% margin. It adds up fast.
I was talking about manufacturing savings, not IT out sourcing. Durable goods.