The Transformation of the U.S.Antitrust Regulatory System for Platform Companies and Its Impact
The United States is the country with the highest market capitalization of platform companies globally.These platform companies hold monopolistic positions in key sectors and have caused negative impacts.Despite having the longest history of antitrust regulation in the world,the U.S.has frequently attempted to regulate platform companies in recent years with little success.Why has the U.S.been unable to effectively regulate platform companies?This can be explained through the lens of the transformation of the U.S.regulatory system.The purpose of the U.S.system of separation of powers is to maintain checks and balances on political power,but when the positions and interests of the three branches cannot be reconciled,policy discontinuities and the internal friction of federal power become inevitable.Specifically,in the case of the U.S.federal regulatory system,this is reflected in three aspects:the Federal Trade Commission(FTC)facing op-position from Congress,the restructuring of the Department of Justice's Antitrust Division leading to a shift in power,and the judiciary restraining the executive branch.This means that the normal antitrust regulatory process is disrupted,allowing platform companies to take advantage of the increasingly relaxed regulatory environment to continuously expand their commercial interests.The practices and failures of U.S.antitrust regulation offer val-uable lessons.Currently,China is constructing a high-level market economy,and digital platform companies,as an important form of new productive forces,are bound to see sig-nificant development.However,how to promote their growth while also regulating them reasonably and effectively is a topic that requires careful consideration.
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