Hong Kong: Amid historic protests, experts say focus should be on competition rules
As protestors continue to call for the resignation of president Xi Jinping to step down, some experts say the demonstrators are focusing on the wrong issues, and should instead look towards the nation’s competition rules.
Financial Times writer Joe Studwell penned an essay arguing that protestors should refocus their efforts on Hong Kong’s economy, which, at present, allows for anticompetitive conduct and cartel behavior. The economic climate, he argues, promotes inequality among Hong Kong residents.
Duopolies exist in the supermarket and pharmaceutical industries, while the bus sector is a cartel. Two monopolies control the city’s energy market.
In recent years, the “Four Families” have come under fire for hiking prices of properties at several times what they cost to develop, reports say.
Hong Kong only implemented its Competition Ordinance and Competition Commission in 2012, and the watchdog is seeking more funding for the future. But some experts say it’s not enough, and little has changed to improve competition in the city.
Full content: Financial Times
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UFC Reaches $375 Million Settlement in Antitrust Case
Feb 6, 2025 by
CPI
Brazilian Architecture Council Convicted of Antitrust Violations
Feb 6, 2025 by
CPI
Bipartisan Bill Seeks to Ban Chinese AI Software from US Government Devices
Feb 6, 2025 by
CPI
Senators Call for Investigation into RealPage Algorithm’s Impact on Military Housing Costs
Feb 6, 2025 by
CPI
ECB Seeks Faster Digital Euro Legislation Amid US Stablecoin Push
Feb 6, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon