Rhetoric about outsourcing is heating up - here's a short piece about the reaction in India. Of course, the folks quoted in this article are right - fighting outsourcing for political reasons will make the economy less competitive.
But at the same time, outsourcing can be a massive source of disadvantage, because it limits strategic flexibility and leverage in the name of efficiency and optimization, by decaying resources, competences, and capabilities, and/or the linkages between them . And by providing an easy way to eke the last drops out of decayed strategies. That's the real threat - but it's at the firm level, not the macro level.