COMPETITION LAW IN SOCIALIST COUNTRIES: EXPERIENCE FROM CHINA AND VIETNAM

Abstract

Competition law is widely known as a product of capitalism and the free market. Although recent reforms have tended to move forwards capitalism and free markets, both China and Vietnam are still mainly socialist. Thus, competition law in both countries has been enacted and is enforced in a significantly different economic and political environment. One evitable question that should be asked is whether and how (if any) this eco-political model has had any impact on the promulgation and implementation of competition laws in these countries, and whether they are significantly different from other `normal¿ market economies. The purpose of this dissertation is to put competition law within the political, economic, cultural and historical background in China and Vietnam and to explain some of the idiosyncrasies of the Chinese and Vietnamese system that have a direct bearing on the enactment, drafting and enforcement of competition laws in these two socialist countries.