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The Political Economy of Competition Law in China provides a unique, multifaceted perspective of China's anti-monopoly law.
China's rise as an economic superpower has caused growing anxieties in the West. Europe is now applying stricter scrutiny over takeovers by Chinese state-owned giants, while the United States is imposing aggressive sanctions on leading Chinese technology firms such as Huawei, TikTok, and WeChat. Given the escalating geopolitical tensions between China and the West, are there any hopeful prospects for economic globalization? In her compelling new book Chinese Antitrust Exceptionalism, Angela Zhang examines the most important and least understood tactic that China can deploy to counter western sanctions: antitrust law. Zhang reveals how China has transformed antitrust law into a powerful economic weapon, supplying theory and case studies to explain its strategic application over the course of the Sino-US tech war. Zhang also exposes the vast administrative discretion possessed by the Chinese government, showing how agencies can leverage the media to push forward aggressive enforcement. She further dives into the bureaucratic politics that spurred China's antitrust regulation, providing an incisive analysis of how divergent missions, cultures, and structures of agencies have shaped regulatory outcomes. More than a legal analysis, Zhang offers a political and economic study of our contemporary moment. She demonstrates that Chinese exceptionalism-as manifested in the way China regulates and is regulated, is reshaping global regulation and that future cooperation relies on the West comprehending Chinese idiosyncrasies and China achieving greater transparency through integration with its Western rivals.
The Political Economy of Competition Law in China provides a unique perspective of China's competition law that is situated within its legal, institutional, economic, and political contexts. Adopting a framework that focuses on key stakeholders and the relevant governance and policy environment, and drawing upon stakeholder interviews, case studies, and doctrinal analysis, this book examines China's anti-monopoly law in the context of the political economy from which it emerged and in which it is now enforced. It explains the legal and economic reasoning used by Chinese competition authorities in interpreting and applying the anti-monopoly law, and offers valuable and novel insights into the processes and dynamics of law- and decision-making under that law. This book will interest scholars of competition law and professionals advising clients that operate in China, as well as scholars of Chinese law, Asian law, comparative law, and political and social science.
The Political Economy of Competition Law in China provides a unique perspective of China's competition law that is situated within its legal, institutional, economic, and political contexts. Adopting a framework that focuses on key stakeholders and the relevant governance and policy environment, and drawing upon stakeholder interviews, case studies, and doctrinal analysis, this book examines China's anti-monopoly law in the context of the political economy from which it emerged and in which it is now enforced. It explains the legal and economic reasoning used by Chinese competition authorities in interpreting and applying the anti-monopoly law, and offers valuable and novel insights into the processes and dynamics of law- and decision-making under that law. This book will interest scholars of competition law and professionals advising clients that operate in China, as well as scholars of Chinese law, Asian law, comparative law, and political and social science.
Today's China is governed by a new economic model that marks a radical break from the Mao and Deng eras; it departs fundamentally from both the East Asian developmental state and its own Communist past. It has not, however, adopted a liberal economic model. China has retained elements of statist control even though it has liberalized foreign direct investment more than any other developing country in recent years. This mode of global economic integration reveals much about China’s state capacity and development strategy, which is based on retaining government control over critical sectors while meeting commitments made to the World Trade Organization. In China's Regulatory State, Roselyn Hsueh demonstrates that China only appears to be a more liberal state; even as it introduces competition and devolves economic decisionmaking, the state has selectively imposed new regulations at the sectoral level, asserting and even tightening control over industry and market development, to achieve state goals. By investigating in depth how China implemented its economic policies between 1978 and 2010, Hsueh gives the most complete picture yet of China's regulatory state, particularly as it has shaped the telecommunications and textiles industries. Hsueh contends that a logic of strategic value explains how the state, with its different levels of authority and maze of bureaucracies, interacts with new economic stakeholders to enhance its control in certain economic sectors while relinquishing control in others. Sectoral characteristics determine policy specifics although the organization of institutions and boom-bust cycles influence how the state reformulates old rules and creates new ones to maximize benefits and minimize costs after an initial phase of liberalization. This pathbreaking analysis of state goals, government-business relations, and methods of governance across industries in China also considers Japan’s, South Korea’s, and Taiwan’s manifestly different approaches to globalization.
This book provides a timely update on the ongoing transformation of the Chinese economy. As the world's second largest economy, China marked the 40th anniversary of economic reform and opening-up in 2018. In this book, top scholars on Chinese economic studies review China's remarkable economic achievement in the past four decades and analyse the challenges facing economic development in the country.The book focusses on structural changes of China's economy, which are essential to steer the country towards sustainable development. It studies the long-term factors affecting the Chinese economy such as education and innovation, and emerging sources of economic growth, such as e-commerce. Other important aspects of the Chinese economy explored in this book include the economic role of the Chinese government, fiscal reforms, capital account liberalisation, housing policies, competition policy and anti-monopoly law, China's export, trends of regional development and reforms of state-owned enterprises.This rich collection of policy-oriented economic studies is also a tribute to Professor John Wong, former research director of the East Asian Institute, National University of Singapore, who passed away in June 2018. For over three decades, Professor Wong had followed and provided insightful analyses on China's economic development.
This volume explores how Chinese institutions have adapted to the new challenges of 'state capitalism'.
'This is a very timely book which provides an unprecedented analysis of the factors which have shaped the competition law systems of ten Asian countries and Australia. The comprehensive discussion from varying viewpoints against the backdrop of the significantly different environments within which the respective regimes have developed creates a framework for the comparative assessment of competition law systems elsewhere in the world.' Lutz-Christian Wolff, The Chinese University of Hong Kong 'New competition laws have been adopted throughout Asia in recent years, and some of the older laws have been significantly strengthened. This makes Asia a fascinating region in which to look at the political and economic circumstances of the countries in which such laws are to be found, and to consider the very different conditions that exist within them. This book will be an invaluable guide to anyone with an interest in the developing competition law regimes of this immensely important part of the world.' Richard Whish, King's College London, UK 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. The book also discusses the impact of these political economy influences in determining whether the adopted competition policy is effective. Each of the authors experts in their respective countries offer specific insights into the nature and structure of their competition regimes and discuss to what extent the varied political economy factors unique to that country help to determine whether and to what extent the established system promotes or hinders economic competition in that jurisdiction. Comprising wide coverage of Asian jurisdictions, including Australia, this book will strongly appeal to students and academics of law, politics, economics and economic development, policy makers in national governments, international agencies and competition authorities, as well as practicing competition lawyers and in-house counsel.
The digital economy, broadly defined as the economy operating on the basis of interconnectivity between people and businesses, has gradually spread over the world. Although a global phenomenon, the digital economy plays out in local economic, political, and regulatory contexts. The problems thus created by the digital economy may be approached differently depending on the context. This edited collection brings together leading scholars based in Asia to detail how their respective jurisdictions respond to the competition law problems evolving out of the deployment of the digital economy. This book is timely, because it will show to what extent new competition law regimes or those with a history of lax enforcement can respond to these new developments in the economy. Academics in law and business strategies with an interest in competition law, both in Asia and more broadly, will find the insights in this edited collection invaluable. Further, this volume will be a key resource for scholars, practitioners and students. .
This is the first academic monograph on the new competition law in Hong Kong. It provides an overview of the historical background of the Competition Ordinance, highlighting the debate and the process that led to the adoption of the Ordinance. It offers detailed comparative and theoretical analysis of the key provisions of the Ordinance, focusing on the First Conduct Rule, the Second Conduct Rule, the exclusions and exemptions, and the procedural provisions. It draws on overseas legislation and jurisprudence that inspired the provisions in the Ordinance and incorporates a detailed examination of the latest cases decided by the Competition Tribunal. It engages in relevant academic debates and theoretical analysis of how competition law in Hong Kong should develop in light of its unique economic and political contexts. It concludes by setting forth of a set of recommendations for further reform.