WEAK POINTS OF COMPETITION LAW ENFORCEMENT IN THE FAR EAST
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Abstract
Competition law recognizes two principal models of regulating the concentration of economic power, namely the American and European models. The American model prevailed, or rather was enforced, in the course of reception of the Western anti-monopoly law in the Far East. On the other hand, the European model was adopted in China – both the mainland and Taiwan – and in South Korea although elements of the other (American) model can be found in both countries. An answer to the question whether Western antimonopoly law and its interpretation have been successful in eradicating traditional Far Eastern vertical monopolies or horizontal structures determining the functioning of the economy seems to be reserved.
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