The Curve Of Cross Border Cartel Enforcement (Challenges and Remedies in Global Business Environment)

Abstract

The purpose of this article stated that the global economic arena has taken new insights across the shore of nations. THE new economic challenges are waiting for the anti-trust enforcers to make sure strict compliance with the antitrust laws and in addition this dissertational work highlights the incipient violations across the borders and suggests its possible legel outcoms in the near future in order to make the economic market a level playing field for any business entrants. It particularly shed light on the cross border cartels and their effects on the relevant market, additionally we have taken the global view of the legislative aspects along with their de jure appliances and improvements for the proper economic growth under the auspices of legal framework. The ramification of cross border cartel enforcement has surfaced astoundingly between 1998 to 2015, underlining the earnest and prompt action to strengthen and revisit the competition law enforcement tools and proficiency. The technological advancements and liberalization of trade has risen significant challenges which includes the enforcement of cross border cartels and mergers. The globalization of corporate activities and deregulation of business markets and numerous industrial sectors has endangered the theoretical foundation of domestic and international competition enforcement regime. The transnational anticompetitive practices like monopolization of markets, collusive price fixing, vertical restraints of trade and international cartels currently challenged the jurisdiction and policies of OECD, WTO, UNCTAD, and ICN. This frightening situation necessarily be regularized by establishing worldwide competition policy and globally admirable enforcement standard. The weaknesses of unilateral, bilateral, and multilateral compacts be re-examined in order to cope with the cross- border competition challenges efficaciously. The extraterritorial, jurisdictional, and investigative mechanisms could be enclosed with binding nature of legal structures to deter cross border antitrust violations for smooth economic growth. The EU and US actively pursuing to establish the unanimous international antitrust regime instead of discrepancies to integrate WTO and ICN being multilateral cooperation forum. Currently, US, CANADA, EU, JAPAN and CHINA across the globe become more engaged in international cartels evidence gathering and investigations. The developments in information sharing, private enforcement, follow on civil litigation, dawn raids, extraterritorial reach of enforcement watchdog is yet to be established.