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 ?
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.
The race to the bottom in corporate tax benefits the international elite at the cost of decency and good public services.
We have a shared interest in protecting our pay, terms and conditions and resisting the race to the bottom where our conditions are constantly compared to the worst paying bosses.
The race to the bottom refers to the fees advisers charge their clients-
We are a heavyweight so we can use that power to protect our citizens" and to stop the race to the bottom, he stated.
I believe these proposals, if implemented, will improve services, end the race to the bottom on terms and conditions for those people providing care, whilst freeing up resource to invest in vital services," Splott's Labour ward councillor said.
The race to the bottom is the result of several intersecting forces: a shaky world economy, a glut of cheaply produced grape juice from developing countries, a consumer who's buying decisions are largely based on marketing by international drinks companies.
The hospitality and retail segments of Dubai's real estate sector are on recovery path while the residential and office sectors are still on the race to the bottom, said the company's Dubai Real Estate Market Overview Q2 2011.
Globalization and the Race to the Bottom in Developing Countries: Who Really Gets Hurt?
The first is, of course, the race to the bottom, or downward jurisdictional competition, one example of which would be that, in an effort to attract mobile capital, "all jurisdictions end up adopting lower corporate taxes, less progressive taxes, weaker environmental and labour standards, and lower minimum wages than they would have chosen acting independently" (p.
A universal national healthcare system would be a major factor in leveling the playing field, in providing more equitable competition among companies, in providing less incentive to outsource jobs, in providing major benefits for workers needing to retrain for new jobs, in decreasing risks in new hiring and in decreasing the incentive for the race to the bottom.
But Gary Ruskin, executive director of the advertising watchdog Commercial Alert, doubts the race to the bottom will end any time soon.
At its core, it should emphasize ending the race to the bottom (which Derber says will require replacement of the World Trade Organization, International Monetary Fund and World Bank), redistributing wealth and income on a global basis (including by debt cancellation and financial transaction taxes with revenues directed to the poorest countries), decommodification (with the global commons--including water and a clean environment--governed by non-market rules), and participation.