CEOs are thinking, "Holy Communist Party, Batman!  Why am I paying Bob $25/hr. for a job that Hu can perform for $25/week?"  It's the same job.  Anybody can make a pillow.

If Bob is 7 times more productive than Hu at making the pillow, then his job should be safe, right?

If Bob's job is not safe then why is Hu not being paid more, in line with his productivity? Because the authorities in China hold down wages? Allow firms to get away with poor working conditions, environmental practices, and so forth, that Bob's employer can't? Because Hu is not free to join a union?

I would rather see Hu's living standards leveraged upward than Bob's forced downward.

We need some sort of minimal international labor standards to make that happen. At least a globally recognized right to organize so that workers can set their own standards.

Maybe also a more growth-oriented international financial system, along the lines of what Keynes originally proposed in 1944, to replace Washington Consensus austerity policies?

That may be too utopian.