English version

race to the bottom

From Longman Business Dictionaryrace to the bottomˌrace to the ˈbottom noun [singular] disapproving the situation in which companies and countries try to compete with each other by cutting wages and living standards for workers, and the production of goods is moved to the place where the wages are lowest and the workers have the fewest rightsThe current regime of outsourcing, privatization and the race to the bottom is hurting workers throughout the world, with corporate profits the only beneficiary.
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