Our economy has been propped up for years by ridiculously cheap labour from abroad, as those countries drag themselves out of poverty, and things get less cheap as a result, its bound to involve a correction to our over priveledged existance IMHO

I dont really think anything can be done about it for the country as a whole, its just inevitable IMHO than the world averages out a bit more in terms of wealth in each country, as companies move their labour forces to cheap countries, so they start to rise the average stand of living in each one, and hence the cost of labour.