China's Merger Proposal Draws Fire
On Sunday, the American Bar Association's Section of Antitrust Law fired off a litany of complaints to China's State Council Legislative Affairs Office, which is drafting the country's anti-monopoly law. The statute is slated to take effect in August, about the same time the Olympic Games are scheduled to commence in Beijing.
"The biggest problem is that there tends to be a lot of uncertainty in the draft," said Joel Mitnick, a partner at Sidley Austin. The Chinese government is "used to reserving a huge amount of discretion."
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