race to the bottom

race to the bottom
race to the bottom ˌrace 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 rights :

• The 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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race to the bottom UK US noun [S] DISAPPROVING
► a situation in which companies compete with each other to reduce costs by paying the lowest wages or giving workers the worst conditions: »

They wanted to stop a ""race to the bottom"" of auto companies outsourcing work to non-union workers and moving operations overseas.


Financial and business terms. 2012.

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