On September 8, Director of the BRICS Competition Law and Policy Centre Alexey Ivanov addressed the 11th International Forum on Fair Competition Policy of China in a video format.
Prof. Ivanov’s speech was dedicated to competition overdose, which is called 内卷neijuan in Chinese and has recently become one of the major concerns of Chinese competition authority – the State Administration for Market Regulation of China (SAMR).
Previously used primarily in the context of social dynamics, the term now describes the destabilized state of various goods and services markets.
Originally a social phenomenon of fruitless effort, neijuan is now a widely used economic term in China to represent involutionary (destructive) competition. Alexey paralleled market features with fundamental opposing Yin-Yang forces in Chinese philosophy: competition is like the Yang energy of the market economy, making it dynamic and vibrant. However, for development to be sustainable, there must also be sufficient Yin energy to balance and harmonize the system.
Ivanov mentioned the Global Governance Initiative, proposed by the Chinese President Xi Jinping at the Shanghai Cooperation Organization Plus Meeting in Tianjin, and specifically its first principle on equality. “All countries, regardless of size, strength and wealth, are equal participants, decision-makers and beneficiaries in global governance,” the GGI goes.
“We can also add that all economic actors — regardless of their size, market power, or assets — should be regarded as equal participants in the global economy, with equal access to the benefits of the global economic order. This is what a pro-competitive yet balanced economic regime could ideally look like,”
emphasized Prof. Ivanov.
Following the GGI, Alexey called for joint actions of BRICS competition authorities:
“These authorities already have the legal mandate and the resources to work more closely together on tangible, practical outcomes. For example, the BRICS and SCO competition authorities could jointly undertake market studies or coordinate investigations into cross-border cartels and the unilateral practices of global corporations operating in socially significant markets.”
The video address was played during the Session I of the Forum, focused on Strengthening Anti-Monopoly Enforcement and Promoting Innovative Development. The session was moderated by Liu Jian, Deputy Director-General of the Anti-Monopoly Enforcement Department I of the SAMR. Guest Speakers included Zhu Li (Deputy Chief Judge of the Intellectual Property Court of the Supreme People’s Court of China), Akylai Turarovna Kozhomberdieva (Head of the Department of Antimonopoly Policy, Competition Development and Pricing of the Ministry of Economy and Commerce of the Kyrgyz Republic), Shi Jianzhong (Deputy Head of the Expert Advisory Group of the Anti-Monopoly and Anti-Unfair Competition Commission of the State Council), Frederic Jenny (Former Chairman of the OECD Competition Committee), Wen Jia(President of Public Affairs Department of Alibaba Group) etc.
The International Forum on Fair Competition Policy of China is an annual event held by the SAMR as part of the Fair Competition Policy Publicity Week. This year’s theme is Fair Competition for the Future — Building a Fairer and More Dynamic Market Environment.
