Has globalization increased or decreased competition? Which countries have the toughest standards for engineers in terms of rules and regulations?
I assume it has to have some downward pressure on prices, since engineering can be done equally in NYC, SF, Mumbai or Shanghai. At the same time, coordination costs are high between North American / European countries and lower-cost offshore locations, especially for creative endeavours, where constant communication is critical. You would think prices would come down, but look at the latest compensation for engineering.
As for rules and regs, I just don't know. I have rarely seen any jurisdiction put heavy rules and regs on the practice of engineering, unless you are dealing with civil or mechanical for physical infrastructure - bridges, tunnels, homes, offices.