Race to the bottom
History and usage

International Political Economy scholar Daniel Drezner (of Tufts University) has described the "race to the bottom" as a myth. He argues that the thesis incorrectly assumes that states exclusively responds to the preferences of capital (and not to other constituents, such as voters), state regulations are sufficiently costly for producers that they would be willing to re-locate elsewhere, and no state has an economy large enough to give it a bargaining power advantage over global capital. A 2022 study found no evidence that global trade competition led to a race to the bottom in labor standards.
length_constraints:number_sentences[11]