EU competition policy in a global world

TL;DRAbstract

This chapter reviews the forces that have shaped current competition laws and initiatives, in particular those that may ease convergence and cooperation between the USA and the EU. Even if convergence is eased when countries are developed, the objectives and the means put in place to attain these objectives may differ across countries. Differences may in turn generate tensions, and therefore shape further developments of the law. Subsequently, this chapter discusses the specific case of state aid control, an EU specificity which has on the one hand helped to ensure the primacy of competition policy over industrial policy, and has prevented potential wasteful "subsidy wars" between member states. However, on the other hand, this policy has been accused at times of hurting the competitiveness of "European champions." Finally, the chapter looks at current challenges facing competition policy; focusing first on new developments as far as state aid control is concerned, namely the State Aid

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