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Originally Posted by FlackBait";p="
The global average per capita income rose strongly throughout the 20th century, the income gap between rich and poor countries has been widening for many decades. Globalization has not worked for the poor as you claim.
Countries are now involved in a "race to the bottom" to attract and retain investments. Multinational corporations are taking advantage of this to employ sweatshop labour and then skim off huge profits while paying very little tax. How is this helping the standard of living for people at the bottom???
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It helps the standard of the people at the bottom by raising the bottom. It hurts the ones at the top who can't compete on wages. It isn't a race to the bottom, it's a race to "equilibrium" in economist's terms, a race to the middle in everyday parlance.