| Many have long perceived a conflict between competition law enforcement and industrial policy. The perception is that domestic competition among domestic producers may have to be suppressed to help them achieve international competitiveness. This conflict may be especially acute in the context of developing countries, which often see the need to provide special support to domestic industries to help them compete effectively in foreign markets. Support is especially essential for producers in developing countries because, in comparison to their counterparts in developed countries, these producers lag behind in technical know-how and financial resources. Some Asian countries have been said to have adopted this strategy of subordinating competition policy to industrial policy to pursue industrial growth. Japan and South Korea are notable examples. In response to this common perception, Simon Evenett has convincingly argued that competition policy is not in an unbridgeable conflict with industrial policy. At least, it is possible to institute and enforce competition law without sacrificing industrial policy goals. Nonetheless, competition law enforcement, especially if enforced zealously to promote consumer welfare, could frustrate industrial policy. It is important to consider how the two may be reconciled. |