Hard core cartels have received increased international attention since the 1990s from many developed nations and from international organisations, especially the OECD. Cartel-busting has become a priority for many competition authorities. Penalties have been substantially increased, with many jurisdictions introducing criminal sanctions including the possibility of imprisonment for individual executives who organise cartel activities. The general opprobrium visited upon cartels is not, however, universally accepted. The Hong Kong authorities have an ambivalent attitude to cartel activity that is driven by an ostensible ideological commitment to ``free markets’’ at all costs. The Hong Kong government has a politico-economic agenda that refuses to acknowledge the pernicious effects of cartel activity and, in any event, denies that cartels are a significant problem in the territory. This article seeks to briefly examine the recent trend towards tougher cartel enforcement internationally. Hong Kong’s cartel policy is then contrasted with international developments and critically analysed. Cartel activity in Hong Kong is described and explained. The future development of competition policy in Hong Kong is considered.
World Competition