Is the Rest of the World Moving toward the Canadian Approach to Efficiency in Competition Policy?

Abstract

Calls for eliminating the efficiency defence in the Competition Act on the basis that it is out of line with competition policies in other jurisdictions do not acknowledge the current state of flux in those jurisdictions. The rejection of the Alstom-Siemens merger opened a debate in Europe on how to allow certain anti-competitive mergers to proceed, and the World Bank and OECD advocate that developing and emerging economies establish strong pro-competitive policies and distinguish “legitimate” from “illegitimate” market power. While antitrust thinking in the United States is moving backwards, the rest of the world appears to be moving towards the Canadian approach to efficiency in competition policy.