Federal Trade Commission (FTC) Chairwoman Lina Khan has vowed to get tough on Big Tech and push American antitrust enforcement in a more interventionist direction since her appointment in 2021. That same year, China launched an aggressive regulatory barrage against its own tech firms, dubbed…
and push American antitrust enforcement in a more interventionist direction since her appointment in 2021. That same year, China launched an aggressive regulatory barrage against its own tech firms, dubbed"common prosperity."
Disturbingly, Khan seems to have found inspiration in China’s crackdown, framing China’s common prosperity initiative as a merely vigorous and aggressive enforcement of antitrust laws. She’s even used it to justify her own policy preferences, noting in 2022 that although the outcome of China’s antitrust campaign was uncertain, it would “be interesting to see.”However, Khan has since conveniently neglected the consequences those policies have had in China.
, aggressively, all the while being cheered on by Sen. Elizabeth Warren . For decades, this transaction, and others like it, would have been considered innocuous, even beneficial. However, Khan’s FTC takes a more skeptical view, one that discards the economic analysis that has been the basis of competition enforcement in favor of structural presumptions that big is bad.
China’s common prosperity initiative worked much the same way. In early 2021, Xi Jinping announced the start of
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