International Economic Organizations and Globalization
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Multiple Choice
Globalization has led to a phenomenon known as the 'race to the bottom', where countries compete to offer the lowest wages and weakest environmental regulations to attract investment. What is the primary driver behind this phenomenon?
- Increased competition among countries for foreign direct investment
- Technological advancements leading to automation and job displacement
- The rise of global labor unions demanding higher wages and better working conditions
- The implementation of protectionist policies by developed countries