In the new global economy, which is awash with cheap labor, Western economies will not be able to compete in a “race to the bottom,” with firms seeking ever-cheaper labor, land, and capital, and governments seeking to attract them by deregulating and shrinking social benefits.
在新的全球经济中，廉价劳动力泛滥，西方经济体无法在这场企业追求低而又低的劳动力、土地和资本、而政府通过去监管和收缩社会福利吸引它们的“向下竞争”中胜出。