While the global trade regime has made significant strides in eliminating tariffs and other barriers to free trade, it has yet to develop a consistent and enforceable antitrust and competition policy that combats monopolies, cartels, and other private arrangements that continue to hamper equitable access to the world's goods and services. This book takes a giant step toward achieving this goal. Based on a conference of national authorities and leading scholars in antitrust and competition law and policy, Competition Policy in the Global Trading System: Perspectives from the EU, Japan and the USA presents twenty insightful essays which together provide an in-depth assessment of current achievements and impasses, as well as a variety of possible ways forward. Among the relevant factors in this progression, the authors discuss such approaches as:
bilateral and regional international cooperation agreements; WTO competition rules, enforceable through the dispute resolution procedure; and international development of US, EU, and Japanese antitrust laws.
Each of these approaches is examined through the all-important lens of enforcement - a spectrum that extends from deterrence to private actions imposing such penalties as prejudgment interest or treble damages. The crucial issue of how international antitrust rules should be incorporated into the global trading system is explored from many angles. Significantly, the book comes at a time when the report of the U.S. International Competition Policy Advisory Committee (ICPAC) is under close scrutiny in all major trading countries. The conference on which this book is based was in fact the first occasion at which top-level antitrust enforcers discussed this report. Including as it does the opinions of several former and present government and WTO leaders in antitrust and competition policy, Competition Policy in the Global Trading System: Perspectives from the EU, Japan and the USA sets the stage for the integration of trade and competition rules that is now gathering momentum. It is a book no official or academic in the field can do without.
Preface; C.A. Jones, M. Matsushita.
Part I: Foundations of International Antitrust: Bilateral Cooperation.
- Antitrust and Bilateralism: The US, Japanese, and EU Comparative and Historical Relationships; T. Freyer.
- Antitrust Cooperation, Global Trade, and US Competition Policy; R. Pitofsky.
- International Development of Japanese Competition Law; S. Itoda.
- Cooperation between Competition Authorities: A Vision for the Future; M. Monti.
- Improving Bilateral Antitrust Cooperation; C. Stark.
Part II: Substantive Issues in Comparative Antitrust Law and Enforcement.
- Comparing Antitrust Offenses in Japan, the US, and the EU; M. Murakami.
- Access Issues under EU Regulation and Antitrust Law: The Case of Telecommunications and Internet Markets; H. Ungerer.
- Market Access Issues in Japan's Antimonopoly Law; J. Tamura.
- Creating a New Competitive Business Environment in Japan; O. Moriya.
- Antitrust's Goals: The Theory of Antitrust in the United States and Japan; H. First.
- Antitrust Deterrence in the United States and Japan; S. Chemtob.
- Trilateralism in Private Antitrust Enforcement: Japan, the USA, and the EU; C.A. Jones.
- Private Antitrust Enforcement in the EU and the UK; J. Lever QC.
- Private Enforcement in Japan of the Act of Antimonopoly and Unfair Trade; M. Murayama.
- Private Enforcement and New Provisions for Damages and Injunctions in Japanese Antitrust; S. Seryo.
Part III: Organizing Antitrust in a Global Economy: Which Way Forward?
- Globalization, Competition and Trade Policy: Convergence, Divergence, and Cooperation; F. Jenny.
- Expanding Our Web of Bilateral Agreements; J. Klein.
- A Transnational Antitrust Convention and the Recent European Antitrust Proposals: Exercises in Economic Anthropology; W. Fikentscher.
- A Need for New Multilateral Initiatives; M. Janow.
- Global Antitrust in the Millennium Round: The Ways Forward; C.A. Jones, M. Matsushita.