As China’s political and economic impact continues to grow around the world, U.S. regulators—including antitrust enforcers—have been forced to grapple with how to protect U.S. interests in a system sprung from a very different government ideology. This clash has played out in the antitrust context in the drafting, implementation and subsequent reaction to China’s Anti-Monopoly Law (AML). How China has implemented the act has drawn criticism from the U.S. and others as to the lack of transparency in its decision-making process and adequacy of protections for foreign interests.
These issues recently came under the spotlight in the form of a June 7 U.S. House of Representatives Judiciary Committee hearing on “International Antitrust Enforcement: China and Beyond.” The hearings focused on China’s Anti-Monopoly Law. Passed in 2007, the AML represented a complete overhaul of China’s antitrust enforcement system, with changes in areas including merger review and how agreements between actual or potential competitors and abuses of market power are evaluated.
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