Which of the following is a challenge for Ireland in global trade?

Competition from low wage economies is indeed a significant challenge for Ireland in the context of global trade. Ireland has built its reputation as a strong player in the global market, particularly in technology and pharmaceuticals. However, it faces fierce competition from countries where labor costs are considerably lower. This can result in businesses shifting production to these low-wage areas to benefit from reduced expenses, impacting Ireland's ability to attract and retain jobs and investment.

Lower production costs enable foreign competitors to offer similar products or services at a lower price, which can undermine Irish businesses that cannot compete on price alone. To mitigate this challenge, Irish companies may need to focus on adding value through innovation, improving efficiency, and leveraging skilled labor to create high-quality products that differentiate them from competitors in lower-wage economies.

Other factors such as access to lower production costs, high levels of English proficiency, and an increase in foreign sales may present opportunities or advantages but do not directly correlate with the challenges posed by low-wage competition.