Just ask yourself, what if the global minimum wage was $10/hour?
Americans jobs would become securer, American companies would stop off-shoring.
I've worked at a company and seen what many hundreds of companies spend on wages relative to their turnover and profit, often wages is a small percentage of turnover.
Increasing wages a lot does not automatically lead to large increases in prices.
Funny that you should mention $10/hour because the minimum wage in the UK is currently $10.00/hour exactly (GBP6.19per) this is not causing the economy problems.
"Most of the western world has gotten away with increasing the minimum wage in a colonial fashion by shifting the cost of labor onto migrant or developing countries."
You buy a pair of Nike shoes, they're not cheap, the labourer in the 3rd world country could be paid 10x as much and it'd barely effect the cost of the shoe.
Other goods are mainly manufactured in factories by machines and robots anyway.