Race to the bottom

{
  "id": "MLC-T-LAW-004101",
  "term": "Race to the bottom",
  "field": "Law",
  "definition": "A phenomenon where states or countries compete by progressively lowering standards, such as environmental regulations, labor protections, or tax rates, to attract business or investment. This competition can lead to a decline in overall standards as jurisdictions seek a competitive advantage. It is often discussed in the context of international trade and environmental policy.",
  "url": "https://mlchart.com/terminology/law/race-to-the-bottom/"
}