>No. I don't believe this race to the bottom actually exists.
There are literally companies using child labor in the US RIGHT NOW, and a huge argument against increasing minimum wage is that "they are jobs for teens and teens don't need that much money" so desperate (or privileged enough in their position to not need to demand more) people are depressing wages in the US currently.
There are literally companies using child labor in the US RIGHT NOW, and a huge argument against increasing minimum wage is that "they are jobs for teens and teens don't need that much money" so desperate (or privileged enough in their position to not need to demand more) people are depressing wages in the US currently.