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Matsushita Revisited: Can U.S. Antitrust Address Foreign State Mercantilism Without Abandoning Free Markets?

BY | May 28, 2026

Over about two decades, China’s industrial and trade policies have transformed global markets in critical materials and technologies. These policies give rise to a complex mix of competitive effects, including...

Over about two decades, China’s industrial and trade policies have transformed global markets in critical materials and technologies. These policies give rise to a complex mix of competitive effects, including both reduced prices reflecting scale economies and potential subsidy-driven distortions in pricing, output, variety, and innovation. In this environment, U.S. antitrust law faces a central challenge: preserving open markets that enable entry by efficient competitors while addressing anti

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