From experience you always get what you paid for.
I have freelanced to people from America, Indonesia, Malaysia and India. The only noticably bad freelancer was from India. It's not that there is a language barrier, it's just that he used copy work. They do however work quick for what it's worth.
There is no point in me working all day for no incentive. So it's about carefully balancing the two. I did use to charge crazy prices however, I now charge much less. I still work just as hard, that being said, I found the some clients don't appreciate you as much.
There has to be incentive for working, otherwise we might as well all get a job and McDonnalds and call it a day.
I found that you can make real money from web design, but it tends not to be through direct client work