Well in reality it’s a more than imperfect tradeoff which can lead to something called “the race to the bottom”, where some countries, desperate to compete internationally, will actually apply worse labor laws and let corporations take full reign like how they will take out bad world bank (or also now Chinese) loans which they then default on so then they have to privatize their water or something like exactly what happened in Bolivia: https://en.wikipedia.org/wiki/Cochabamba_Water_War
I’d say I’m very far left as an American but I’m not a utopian and I think that the whole race to the bottom situations is one of the biggest underlying issues in any global market, even if we had socialism in the US there is still such rampant inequality in other countries, so the issue would still persist.
What’s not true in that statement?
Well in reality it’s a more than imperfect tradeoff which can lead to something called “the race to the bottom”, where some countries, desperate to compete internationally, will actually apply worse labor laws and let corporations take full reign like how they will take out bad world bank (or also now Chinese) loans which they then default on so then they have to privatize their water or something like exactly what happened in Bolivia:
https://en.wikipedia.org/wiki/Cochabamba_Water_War
I’d say I’m very far left as an American but I’m not a utopian and I think that the whole race to the bottom situations is one of the biggest underlying issues in any global market, even if we had socialism in the US there is still such rampant inequality in other countries, so the issue would still persist.