Mergers in China: Enforcing China’s Anti-Monopoly Law in a Time of Change

At the time of this writing, we are in the midst of the escalating US-China trade tensions. This bilateral issue has raised the risk of a broader crisis defusing on some fronts. Emerging markets are losing confidence on the international rules-based order mainly established by the developed countries while it also triggers vulnerabilities among the US multinational companies because of their needs for globally integrated supply chains. In essence, the trade tension is due to the surge of local protectionism, which is not an unexpected reaction to the rapid development of globalization. Competition at a global level implies that there will be winners and losers. The disrupting sentiments experienced by losers are often felt to have come from competition from abroad. But erecting trade