If that value justifies the cost, there should not be a problem. Some of that value may move to low CoL areas and offer comparable value for much lower cost - then things will start to become complicated - this is totally based on the assumption that that value is only available in high CoL areas.
The problem is when you hire those high CoL areas, extract value by training others, and then discard them. This will make high CoL workers more hesitant to join a globalized employer.
