00:01
Okay, so we want to rank the most affected to the least in race to the bottom of globalization.
00:06
So the first in rank is labor standards.
00:15
Now, this is one of the most directly affected as countries and companies seek to reduce costs, which leads to lower wages, poorer working conditions, and less bargaining power for workers.
00:31
Workers.
00:33
Second in rank is the environmental regulations.
00:38
So significant pressure to relax regulations to attract investment which leads to pollution and degradation of natural resources.
00:55
And environmental concerns are often secondary to economic gains in the short term.
01:03
Third third is the social protections.
01:12
Now as governments prioritize economic competitiveness, social safety nets like healthcare, education, and welfare may suffer, which impacts the well -being of the population, especially the vulnerable.
01:30
Fourth in rank is the economic impact...