During the past decade and a half, there has been a marked shift in emphasis from industrial policy to competition policy. Yet many challenges remain. Many industries are still highly concentrated and overall market concentration has increased since the mid-2000s. The Fair Trade Commission is still committed to its competition-advocacy role, but institutional legacies tend to impede progress on core competition issues. The commission should conduct rigorous market studies and adopt appropriate remedies to make markets work better for consumers. Policy on contentious issues should be based on sound economic theory and empirical analysis. The chapters that follow examine these issues. Authored by experts from Canada, Korea and the United States, they provide international comparisons of market structures with particular reference to the impacts of foreign competition on market concentration. The book also examines core competition issues, including international experiences with abuses of dominance, mergers and collusion, and vertical restraints.