The global race to the bottom has been underway since President George W. Bush and his near twin, President Barack Obama. These two two-termers stoked the profits of billionaire private equity underwriters, while individual citizens have struggled.
I wrote about the global race to the bottom in 2009 and raised the "lowest common denominator" theme many times since. The White House and Congress provide outstanding service to the billionaire class. They ensure the PEU will is done.
Obama's trade deal won't lead to the global race to the bottom, long underway. It will accelerate it, like gasoline.
PEU Report/State of the Division