by Hannah Berdal
Hannah Berdal is in her third year at the University of Western Australia, studying a combined degree in Law and Commerce with an Economics major. Hannah is currently involved in the Students in Free Enterprise society at her university as an executive member and was recently an intern at The Lion Rock Institute.
Hong Kong’s Competition Bill has been a long time coming. With the law already enshrined throughout most western economies and anti-trust cases frequently making the headlines overseas, it was only a matter of time before pressure to implement similar legislation reached its peak. However, considering that Hong Kong already outperforms the rest of the world’s economies in open market competitiveness without such legislation, will the local consumer really benefit from such a law governed by the monopoly of the State? And why are SME’s (small-to-medium enterprises), one of the law’s supposedly major beneficiaries, so vocal against enacting this law? With many overseas nations suffering a turbulent and questionable history with the law, the rationale for its adoption in an already cutting edge economy remains unclear. Hong Kong must study the track record of this law elsewhere in the world and review similarly established policies, like those in Australia, to provide useful insight as to its effectiveness and ramifications for the Hong Kong business community. Read the rest of this entry