My understanding of economics, in particular global economics, is slim... but let me try to think this through...
It certainly sounds good on the surface... but some points:
Driving the minimum wage up to an equal level in each country would be difficult... you would have to account not only for inflation in THIS country, but in other countries as well, in order to make the value of each minimum wage the same. This would require a HUGE amount of research to coordinate... inflation is constantly changing...and since the US is the base, if we have a recession... we could potentially drive other nations into depression...
Then, even if we did manage to make it equal, this means that US businesses that normally have factories and employees overseas because it is cheaper now not only have to pay them the same they would domestic employees, but would also have to continue to deal with financial issues involved with shipping overseas and other distance problems. It would no longer be lucrative to employ people in other nations, so US businesses will start hiring US employees instead. This would certainly fix the job shortage in the US, but it would deprive millions of people of jobs outside of the country. This, obviously, would NOT be a good result...instead of getting equal pay, they get NO jobs at all! This would increase poverty in foreign nations, rather than decreasing it... not good, not good at all.