The emergence of competition law as a global enterprise is a remarkable development in economic regulation. For nearly a century after the adoption of the first national statutes in the late nineteenth century, competition law, or antitrust, was largely an American idiosyncrasy. This is no longer the case. Since the late 1980s, the number of jurisdictions with competition laws has soared from roughly thirty to more than 130, and more are on the way. Many modern adopters are countries that once seemed immutably committed to central planning and government ownership as the foundations for economic progress until the recent past. The astonishing global expansion of competition law has considerable economic significance beyond the well-established regimes in the European Union and the United States, which together had, until recently, functioned as a form of regulatory duopoly in international competition law since the early 1990s. For large multinational companies, the establishment of new systems in Brazil and China and the makeover of India’s older, ineffective competition
regime has transformed the planning of mergers and required reconsideration of practices such as the licensing of intellectual property. Though its Antimonopoly Law only took effect in August 2008, China already is a peer of the European Union and the United States in its capacity to shape global norms of business behavior. In the years to come, regional alliances such as the Association of Southeast Asian Nations may achieve the same stature.