China is cracking down on companies practicing monopolistic behavior and has received a negative response from western news publications.
While in the U.S, a few companies rule almost an entire market share, leaving the average user with much less choice and with dismal customer service.
Western Reaction to China crackdown on Monopolies.
For Large U.S investment institutions, monopolies are seen as cash cows, and they should be protected from government interference.
Implications of Americas Market Concentration
There used to be a time when the West championed more choices for its citizens and made sure a balanced market was kept. Those days are gone, it seems.
A Book by Denise Hearn and Jonathan Tepper: The Myth of Capitalism takes a look at how the average American has lost their choice and, Thereby, its Competitive edge, such as the case currently in the West.
The book tells a story of how America has gone from an open, competitive marketplace to an economy where a few very powerful companies dominate key industries that affect our daily lives.
Denise Hearn discussed the book in a youtube video: Global Implications of Market Concentration.
Why is China moving against Monopolies?
China has been very keen to fix things before they become problems, and as they notice American imbalance and witness the effect of Market Concentration in the U.S. China has decided to act in correcting the conditions that have the potential in creating an anti-competitive marketplace in its own country.
While In the U.S, Corporations are considered people and can fund politicians that write bills in their favor, In China, It doesn’t matter how rich you are. You are not allowed to influence the government in your favor. and so, Corporations are expected to stay in their lane.