Compose a 250 words essay on Global economy. Needs to be plagiarism free!Secondly, more information on the advantages and disadvantages of the race to the bottom needs to be incorporated. Thirdly, although the history of the concept has been given, this discussion is brief. More information needs to be added to make the reader fully understand the history of race to the bottom and how several scholars and researchers have defined it. Finally, the article needs to discuss deeply how international bodies such IMF and WTO have contributed and/or hindered the race to the bottom.The concepts covered in class and those relating to globalization have been partially incorporated in the article. For example, some of the key concepts covered include: free trade, working conditions, competition and the environment have been included. However, there are other critical elements that need to be deeply explored. For instance, one of the core components of globalization that is related to the race to the bottom is international trade. This is not explored in the article. Furthermore, the article needs to link race to bottom to concepts such as contagion, international financial institutions and foreign direct