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Competition Policy for the New EraInsights from the BRICS Countries$
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Tembinkosi Bonakele, Eleanor Fox, and Liberty Mncube

Print publication date: 2017

Print ISBN-13: 9780198810674

Published to Oxford Scholarship Online: January 2018

DOI: 10.1093/oso/9780198810674.001.0001

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BRICS and the Global Competition Law Project

BRICS and the Global Competition Law Project

Chapter:
(p.115) 5 BRICS and the Global Competition Law Project
Source:
Competition Policy for the New Era
Author(s):

Alexey Yurievich Ivanov

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198810674.003.0006

Evolving BRICS cooperation in Competition Law and policy provides new hope. It aims to embrace the peculiarities of globalization in its current phase. All BRICS jurisdictions are desperately searching for a solution that shortcuts the developmental track. The group’s experimentalist energy and creativity are extremely important for the current phase of global economic development. Not only is an institutional structure of the global order in transition, but also the very nature of the global marketplace. The new global competition policy should focus on facilitation of openness among global networks and value chains through the reduction of the manipulative and exclusionary potential of networks. BRICS cooperation can help make the global marketplace fairer and more equal, and can promote competition encouraging a broader dissemination of knowledge and advanced technologies, while eliminating barriers imposed on the global flows of innovation by the global technological monopolies and cartel-like technological joint ventures.

Keywords:   antitrust, competition law, development, BRICS, international cooperation, global value chains, networks, global governance

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