Chinese Antitrust Exceptionalism

Chinese Antitrust Exceptionalism : How The Rise of China Challenges Global Regulation

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Description

China's rise as an economic superpower has caused growing anxieties in the West. Europe is now applying stricter scrutiny over takeovers by Chinese state-owned giants, while the United States is imposing aggressive sanctions on leading Chinese technology firms such as Huawei, TikTok, and WeChat. Given the escalating geopolitical tensions between China and the West, are there any hopeful prospects for economic globalization?

In her compelling new book Chinese Antitrust Exceptionalism, Angela Zhang examines the most important and least understood tactic that China can deploy to counter western sanctions: antitrust law. Zhang reveals how China has transformed antitrust law into a powerful economic weapon, supplying theory and case studies to explain its strategic application over the course of the Sino-US tech war. Zhang also exposes the vast administrative discretion possessed by the Chinese government,
showing how agencies can leverage the media to push forward aggressive enforcement. She further dives into the bureaucratic politics that spurred China's antitrust regulation, providing an incisive analysis of how divergent missions, cultures, and structures of agencies have shaped regulatory outcomes.

More than a legal analysis, Zhang offers a political and economic study of our contemporary moment. She demonstrates that Chinese exceptionalism-as manifested in the way China regulates and is regulated, is reshaping global regulation and that future cooperation relies on the West comprehending Chinese idiosyncrasies and China achieving greater transparency thorugh integration with its Western rivals.

Watch a short introductory video from the author.
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Product details

  • Hardback | 272 pages
  • 161 x 241 x 20mm | 554g
  • Oxford, United Kingdom
  • English
  • 0198826567
  • 9780198826569
  • 84,432

Table of contents

Preface
Introduction: Chinese Antitrust Exceptionalism
Part I: How China Regulates
1: Bureaucratic Politics Behind the Rise of Antitrust
2: Regulatory Hostage-taking and Shaming
Part II: How China Is Regulated
3: The E.U. Merger Probe into China, Inc.
4: America's Scrutiny over China's Trade Dominance
Part III: Regulatory Interdependence
5: Weaponizing Antitrust During Sino-U.S. Tech War
Conclusion: Hostage and Peace
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Review quote

In her work, Professor Zhang, holding both insider and outsider perspectives, provides a balanced and neutral view of the Chinese antitrust exceptionalism. This book is a must-read for academics and legal practitioners who are interested in Chinese antitrust law. It is also highly recommended for researchers, policymakers and government officials in the fields of international relations, political science, and political economy. * Zhijin Liu, Concurrences * This is a must read for anybody with an interest in antitrust. * Emanuela Lecchi, Concurrences * Professor Zhang's work provides much-needed perspectives for understanding how antitrust is actually carried out for Chinese firms both inside and outside of China. * Wentong Zheng, Antitrust Source * Professor Zhang's work provides much-needed perspectives for understanding how antitrust is actually carried out for Chinese firms both inside and outside of China. * Wentong Zheng, Levin College of Law, University of Florida, The Antitrust Source * Angela Zhang's new book, Chinese Antitrust Exceptionalism, fills a big gap in understanding the mystery of China, the most dramatically emerging economy and one with the apparent goal to become the global economic superpower, and antitrust, a discipline adopted by China, which notionally limits power and facilitates open, efficient markets. Professor Zhang reveals China's nuanced intertwining of politics, institutions, and law. She uncovers the bureaucratic
environment and the incentives of the bureaucrats and the law enforcers. She tells the story, not apparent to the outsider, of how decisions are really made. The book is a necessary addition to any library about China as an emerging global power, politics, and the limits of law. * Eleanor Fox, Walter J. Derenberg Professor of Trade Regulation, New York University School of Law * As Chinese technology firms have become global players, they have come under increasing scrutiny by Western policy makers. As Angela Zhang demonstrates, antitrust law has become an instrument not only of economics but also of strategic rivalry. Informed by legal analysis, game theory, and deep knowledge of both Chinese and Western legal practices, this valuable book provides a guide both to present-day controversies and to a more hopeful way forward. * Dani Rodrik, Ford Foundation Professor of International Political Economy, John F. Kennedy School of Government of Harvard University, Author of The Globalization Paradox * This is an excellent book on a hugely important issue. Professor Zhang situates her sharp legal analysis in the broader contexts of Chinese economy and politics. An indispensable and timely treatment of the topic. As tensions are rising between China and the rest of the global community, this book provides a way and an angle for us to make sense of these developments. I recommend the book highly to anyone who has an interest in Chinese political economy. * Yasheng Huang, Epoch Foundation Professor of International Management, MIT Sloan School of Management, Author of Capitalism with Chinese Characteristics * Angela Zhang offers a deeply insightful and thought-provoking account of China's antitrust policy today. Showing how law, economics, and politics interact, Zhang reveals the peculiar place that China occupies in the world of antitrust today-both as a controversial regulator and as an elusive target for foreign antitrust regulators. The book is astute, engaging, and highly compelling. It is a timely contribution that is a must-read for anyone interested in antitrust
law or China's role in the global economy. * Anu Bradford, Henry L. Moses Professor of Law and International Organization, Columbia University, Author of The Brussels Effect * Are U.S. and EU analysts getting Chinese antitrust wrong - and so misunderstanding a key element of the struggle over China's participation in the global legal order? Angela Zhang's terrific book takes you on a deep dive into Chinese institutions to show how antitrust enforcement there is a bottom-up bureaucratic process, not a top-down command and control structure. From this research comes a policy approach for the West to adopt, based on incentives and threats,
that has a chance of working. Required reading for anyone interested in China-West relations through the lens of law and real-world politics. * Noah Feldman, Felix Frankfurter Professor of Law at Harvard Law School and author of The Arab Winter *
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About Angela Huyue Zhang

Angela Huyue Zhang is Associate Professor of Law and Director of the Centre for Chinese Law at the University of Hong Kong. She previously taught at King's College London and practiced with leading international law firms in the United States, Europe and Asia.
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