Table of Contents

The Goals of Competition Law

The Goals of Competition Law

ASCOLA Competition Law series

Edited by Daniel Zimmer

What are the normative foundations of competition law? That is the question at the heart of this book. Leading scholars consider whether this branch of law serves just one or more than one goal, and, if it serves to protect unfettered competition as such, how this goal relates to other objectives such as the promotion of economic welfare.

Chapter 21: China’s Anti-Monopoly Law: Agent of Competition Enhancement or Engine of Industrial Policy? – Comment on Wang and Su

Deborah Healey

Subjects: economics and finance, law and economics, law - academic, competition and antitrust law, law and economics

Extract

21. China’s Anti-Monopoly Law: agent of competition enhancement or engine of industrial policy? Comment on Wang and Su Deborah Healey* 57 1 INTRODUCTION Professor Wang’s chapter comprehensively considers the question of whether the Anti-Monopoly Law (“AML”) of China is an agent of change or an engine of industrial policy. She concludes that going forward competition policy will become a central plank of all economic policies and that industrial policy will gradually be aligned to competition policy in the continuing development of the market economy. My comments on Professor Wang’s chapter are set out below. 2 UNIQUE POSITION OF CHINA I would like to preface my remarks with two points which I consider to be foundational to any discussion of the issue at hand. First, in any assessment of the AML it is essential to acknowledge that the Chinese Government has clearly recognized the importance of competition as a market regulator by adopting a competition law at a time when China’s market economy is still developing. Many other countries implemented their competition laws at a much later time in their economic development, when their markets were more mature. Those countries enacted competition laws to attack anti-competitive conduct in an existing market economy, rather than implanting the competition law in a developing economy. * LLM (Syd), Senior Lecturer, Faculty of Law, University of New South Wales. 398 M2863 - ZIMMER TEXT.indd 398 27/01/2012 10:59 Comment on Wang and Su 399 Secondly, competition laws of other countries are not static – they continue to...

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