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Vol 23 No 5 May/June 2018

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Global Competition: Law, Markets and Globalization

ISBN13: 9780199652006
Published: January 2012
Publisher: Oxford University Press
Country of Publication: UK
Format: Paperback (Hardback in 2010)
Price: £28.49
Hardback edition , ISBN13 9780199228225

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Global competition now shapes economies and societies in ways unimaginable only a few years ago, and laws shape and maintain global competition, determining how effective global markets are and how they distribute benefits and harms.

Competition (or antitrust) law plays a central role in this framework of law. These laws are intended to protect the competitive process from distortion and restraint, and in the domestic context, they embody and reflect the relationships between markets, their participants and those affected by them.

On the global level, however, competition law is provided by those players that have sufficient nullpowernull to apply their laws transnationally. In practice, this means that the US and the EU generally provide the competition law principles for global competition. This book examines this important and controversial aspect of globalization.

Part I examines the evolution of the current system of competition law for global markets, the factors that have shaped it, and how it operates today. There was once a widespread belief that harm to global competition was an international problem that should be addressed through international coordination, but the Cold War submerged this ideal and led to the current system. Since the 1990s efforts have been made to develop transnational cooperation in this area, but the basic system remains in place. The evolution and operation of this system cannot be understood without understanding the factors in national experience that have shaped them

The second part of the book focuses on these national experiences and the roles they have played in the evolution of the global system. It examines US and European experience as well as the experience of the newer players such as China that will necessarily play major roles in the future.

Finally, the book examines the potential for creating a system that functions more effectively and provides more support for global economic and political development. Drawing on parts I and II and on social science as well as legal literature, it identifies the factors that will play a role in moving towards a more effective legal framework for global competition and suggests a pathway for needed reforms.

Competition Law, International Trade
1: Introduction: Competition, Law and the Global Economy

Part I Law, Sovereignty and Global Competition: The Evolving Relationship
2: Global Competition Law: A Project Conceived and Abandoned
3: Sovereignty as Solution: Extending the Reach of National Laws
4: Globalization, Competition and Law: Conflict, Uncertainty and the Promise of Convergence

Part II National Competition Law Experience and Global Competition: Shaping interests, Perceptions and Values
5: US Antitrust Law Experience: Model and Lens
6: Market, Community and Integration: Competition Law in Europe
7: Competition Law and The Newer Players

Part III Competition Law as a Transnational Project
8: The Potential Value of Global Competition Law
9: Reconceiving Competition Law for Global Markets
10: Toward a Legal Framework for Global Competition?