Transnational labour regulation and international trade: towards a complementary approach
In today’s globalised economy, the free movement of goods, services and capital impels countries to compete for trade and foreign investment by lowering their labour standards. International trade is therefore widely perceived as instigating regulatory competition between countries, or a ‘race to the bottom’. The challenge that international trade poses for countries’ labour standards has been a central concern of the International Labour Organization (ILO) since its establishment.