Williams, Mark --- "Conclusion" [2013] ELECD 747; in Williams, Mark (ed), "The Political Economy of Competition Law in Asia" (Edward Elgar Publishing, 2013) 416

Book Title: The Political Economy of Competition Law in Asia

Editor(s): Williams, Mark

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781781001677

Section: Chapter 13

Section Title: Conclusion

Author(s): Williams, Mark

Number of pages: 5

Abstract/Description:

Any attempt to comprehensively summarize the content of this book is an all but impossible task given the very substantial differences between the nations discussed, and so this chapter will not try to do so. In considering the current position of the competition policy environment in each of the countries discussed, it is interesting to note the variety of reasons for competition policy adoption. Some countries adopted as a result of endogenous choice, perhaps due to the advocacy of academic or political figures that reflected the notion that, in an increasingly globalized economic system, retaining an isolated and inward-looking domestic economy was simply no longer viable. Australia is an obvious example of this phenomenon. Adopting or strengthening an existing competition regime to assist the restructuring of the domestic economy is another circumstance that can promote reform. India might fall into this category. Often such a policy choice is a parallel development to the liberalization of an external trade regime. Pro-competition measures sometimes follow from bilateral trade agreements, as was the case in Singapore, or because of regional trade agreements as in ASEAN, where this provided a major impetus for both Malaysia and the Philippines to act. Application for membership of the World Trade Organization (WTO) and an attempt to attract foreign investment appear to have been incentives for Vietnam and also perhaps for China, though adoption was not a requirement of WTO membership.