I'm glad a few people are worried about this. I agree with Mr Jennings:
"We are going to see a churn in employment security, and a round of wage deflation, which is bound to result in a middle class backlash"
and
"Speaking at the World Economic Forum, Morgan Stanley chief economist Stephen Roach drew attention to the phenomenon of "global labour arbitrage", where what were high-wage jobs in developed world were transformed into low-wage jobs in the developing world."
I guess, theoretically, this increases productivity and overall wealth in the long term but the costs of the "structural adjustments" (unemployment) are very hard to predict.