a/the race to the bottom

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a/the ˌrace to the ˈbottom

(business) the idea that economic competition will lead to lower standards, worse conditions for workers, and workers in some countries losing their jobs to lower-paid workers in other countries: They fear that globalization only creates a race to the bottom.
See also: bottom, race
References in periodicals archive ?
These fears about a race to the bottom are based on nothing - not history, not intention, nor interest" - Brexit Secretary David Davis.
They fear that Brexit could lead to an Anglo-Saxon race to the bottom, with borrowed from dystopian fiction.
Here's Stiglitz talking about the race to the bottom of corporate tax giveaways:
The Race to the Bottom among big corporations and transnational firms competing in a borderless global economy is seen by trade unions and civil-society organizations as the root cause of exclusion for the many and the deepening inequality within and among countries.
Senator Tammy Baldwin has led 17 of her Senate colleagues in a letter to United States Trade Representative Robert Lighthizer calling for the Trump Administration to reverse the race to the bottom that has led to job losses and wage stagnation in the United States.
They warned that imports from lower-welfare countries could "undermine the sustainability of the industry or incentivise a race to the bottom for welfare standards - contrary to the wishes of the UK industry".
ESMA chair Steven Maijoor said, 'This work is aimed at avoiding competition on regulatory and supervisory practices between member states, and a possible race to the bottom, which might be detrimental to the capital markets union.
Friedman said RH will continue with its current strategies, noting: "Many retailers are in a race to the bottom regarding price.
I think you do that and you have a race to the bottom," said James, an Old Etonian friend of former prime minister David Cameron.
A report finds the global airline industry has created a race to the bottom that is putting airport workers, airport safety and the quality of services for passengers under pressure.
BRITAIN faces a "dog-eatdog" race to the bottom in workers' rights if it quits the EU, former prime minister Gordon Brown has warned.
8 percent from the top statewide race to the bottom one.
Globalization has oft been described as a race to the bottom, but as with any race, there is much jockeying for position.
The race to the bottom refers to the fees advisers charge their clients-