When i was recruiting i saw salaries of shanghai engineers at the same level were higher than in europe but lower than usa for same level. It was something like this

USA > CHINA > ISRAEL > EUROPE/INDIA. European cost to company was higher but net salaries of indians at same level for experienced developers were higher than that of europe. Entry level salaries in europe was higher than their indian counterparts.

Executives were surprised when we told them that it would not be straightforward to expand overseas as salaries are at par with the salaries in europe.