The Antitrust Review of the Americas 2014

Foreword

27 August 2013

A US antitrust scholar once asked: ‘Is international antitrust possible?’1 At one time, it was difficult to imagine the possibility of global convergence on principles of competition law. But today it is even more difficult to imagine how we can proceed without it. Much has changed since the United States adopted the Sherman Act over 120 years ago. Today, nearly every major corporation has an international presence, and just about every consumer good is manufactured and distributed through a complex global supply chain. It should come as no surprise that legal regimes have followed suit and sprouted around the world to protect competition and promote consumer welfare. Transactions face concurrent reviews from an ever-increasing number of antitrust authorities across the globe. Likewise, cartels face investigation and prosecution from enforcers in multiple jurisdictions. And each year, more countries adopt mechanisms for private enforcement of antitrust laws. With the globalisation of competition law certainly comes greater risks and exposure for firms operating internationally – but there is also the prospect of sharing knowledge about best practices, discovering common ground and increasing the fairness and consistency of antitrust enforcement across borders.

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