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4) Some believe that tough environmental regulations add costs, reduce firm competitiveness, and drive some firms to invest elsewhere (race to the bottom). Others argue
4) Some believe that tough environmental regulations add costs, reduce firm competitiveness, and drive some firms to invest elsewhere (race to the bottom). Others argue that tough environmental regulations force firms to be innovative and thus enhance competition and competitiveness. What will be appropriate thinking and why?
Please explain it in details and provide the references. I would appreciate it very much.
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