Rev Ind Organ (2012) 41:1–6 DOI 10.1007/s11151-012-9342-z Introduction: Embracing Competition in the World’s Second Giant Economy: China’s 2008 Anti-Monopoly Law David K. Round · Ping Lin Published online: 17 February 2012 © Springer Science+Business Media, LLC. 2012 1 Introduction When China ﬁnally embraced the notion of a market economy in 1992, it was inev- itable that pressures would mount, both internally and from external sources, for it to follow the lead of other major world economies (and many not so big ones as well) and embrace fully a culture for competition: not mere lip service to a watered- down version of a competition statute, leavened with so-called “Chinese characteris- tics”, but one that showed a full commitment to line up with the rest of the world in acknowledging the primacy of the competitive process in promoting the efﬁcient use of scarce resources, encouraging dynamic efﬁciency, and working in the best interests of consumers and society in general. China ﬁnally entered the modern antitrust era in 2008, when the Anti-Monopoly Law (AML), which had been passed in 2007, came into effect after a long gestation period of 13 years of debate. Prior to this, China had passed several laws that
Review of Industrial Organization – Springer Journals
Published: Feb 17, 2012
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