Retrospect and Prospect

Abstract

This chapter looks back upon the modern era and speculates on future developments. As a modern competition statue, the Commerce Act 1986 stands up well in both substance and form and, overall, can be adjudged to be a success. The courts have battled valiantly to determine often complex disputes in a way that is mostly in harmony with the Act’s objective. A respectable body of antitrust jurisprudence has accumulated in just over three decades. Some challenges faced by NZ competition policy designers and enforcement agencies are generic in nature, being issues facing all antitrust jurisdictions. Common challenges include: (a) greater harmonization of competition law internationally and increased co-operation between enforcement authorities; (b) the challenge posed by the digital economy and new technologies; (c) a renewed concern with “fairness” and socio-political considerations, and; (d) inclusion of new factors such as environmental impacts. Other matters are more specific to New Zealand and include: (i) the response to greater Chinese investment and control (Sinicization) of the economy, and; (ii) the possible accommodation of indigenous Maori business enterprises.