The Political Economy of Competition Law in Asia

The Political Economy of Competition Law in Asia

Edited by Mark Williams

This detailed book describes and analyses the essential political economy features that provide the backdrop to the competition policies and competition law regimes of several of the most important Asian economies.

Chapter 4: China

Mark Williams

Subjects: asian studies, asian law, law - academic, asian law, competition and antitrust law


China has undergone a radical economic transformation since 1978 when the ruling Communist Party of China (CCP) made a dramatic decision to move away from the orthodox Leninist-Stalinist model of economic organization toward a more market-oriented economic system. This decision has transformed China from being an impoverished, predominantly agricultural nation into the dynamic, export-oriented economic superpower that now ranks second only to the United States. It has been argued that China’s economic rise is one of the most significant economic events of our time, and that more people have been lifted out of poverty, more quickly, than by any other set of economic policies ever adopted. Internationally, the economic and political effects of this policy shift are now obvious to all: the massive migration of manufacturing capacity to China, the hugely increased presence of Chinese-manufactured products in world markets, surges in commodity prices due to China’s anxious worldwide search to secure supplies of raw materials to fuel its continued economic development.

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