Race to the Bottom
RAYSS tuh thuh BOT-um
/reɪs tə ðə ˈbɒt.əm/Listen
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Syllable breakdown
Dictionary meaning
A competitive dynamic in which countries progressively lower their standards — labor rights, environmental regulations, tax rates, or trade safeguards — in order to attract foreign investment or gain competitive advantage, ultimately harming all parties.
History and origin
Economic term popularized in the 20th century, derived from competition theory
Examples
- Critics warn that tax competition between countries is a race to the bottom that depletes public revenues.
- Free trade agreements must include labor standards to prevent a race to the bottom on workers' rights.
Synonyms: competitive deregulation, regulatory undercutting, beggar-thy-neighbor policy
Pronunciation tips
Often used in debates about globalization and trade liberalization. The opposite concept is 'race to the top' — competing by raising standards.
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