he intersection between trade and labour is a topic that has attracted much attention over the past 12 months. From Brexit to the presidential elections in the US, politicians have sought to exploit the notion that trade – and in particular trade liberalisation – produces negative effects on labour standards and conditions.
Of course, trade liberalisation produces winners and losers. A number of national industries have suffered as a result of increased global competition. There are also the concern that as global mobility in goods, services and capital increases, low labour standards in exporting countries may undermine higher labour standards in importing countries eventually leading to a “race to the bottom”.
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