Race-To-The-Bottom Argument
Race-To-The-Bottom Argument : This expresses the fear that the need to compete with imports from countries with low labour costs and lower labour standards will reduce wages and labour conditions in the developed countries. This argument forms part of the rationale for discussions on a social clause and trade and labour standards. A similar argument has been made in relation to environmental standards where it is thought that lower environmental requirements in some countries could give them a competitive advantage. See: Core labour standards; Dumping; Social clause; Social dumping
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