Part IV International Business Law, XXIX International Competition Law
- Competition — International investment law — International monetary law — International trade
This chapter showcases national and international competition laws, in particular the two most developed and most influential systems of competition law—the US antitrust law and the competition law of the European Union. The European Union is the only system of regional economic integration with a common competition law and supranational law enforcement. A truly international framework with binding competition rules, however, is still not in sight. But there are rudimentary rules for undistorted competition in regulated sectors under GATS. Moreover, a number of bilateral agreements and memoranda of understanding establish a close cooperation in competition cases. General international law also governs the legitimate reach of national competition laws.