race to the bottom

(economics) A situation in which competition between governments leads to very excessive (harmful) deregulation.

Japanese Meaning

各国・政府間の競争が、極度の規制緩和を招く状況。 / 競争の結果、最低限の基準や規範が維持できなくなり、社会全体の基準が下がる現象。

The region's tax cuts turned into a race to the bottom, undermining public services.

その地域の減税は政府同士が規制を切り下げ合う競争に発展し、公共サービスを損なった。

Sense（1）

(economics) A situation in which competition between governments leads to very excessive (harmful) deregulation.

Sense（2）

Sense（3）

Any situation in which multiple parties are seemingly competing to achieve the greatest level of mediocrity.

races to the bottom

（ plural ）