loppear quoted Trade Wars Are Class Wars by Matthew C. Klein
Companies everywhere fight for larger shares of a global market even as they collaborate to suppress the size of their domestic markets. [...] "competitiveness" has become a euphemism for pushing wages down, [... and] generated a global spending shortage. Trade wars are an almost inevitable consequence of globalization as it has been practiced.
— Trade Wars Are Class Wars by Matthew C. Klein, Michael Pettis (Page 225)
Though the book is mostly about global finance imbalances and central bank policies over the last 30-150 years, not so much corporate policy, this paragraph in the conclusion sums up most of the point.