Competition authorities in the 21st century: Adapting to a new economic landscape

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The document discusses the importance of competition in driving innovation, productivity, and growth, emphasizing the need for competition authorities to adapt to changing forces such as rising living costs, macro-economic challenges, and technological advancements. It highlights the challenges of digital markets and proposes responses including merger control and regulation. The document introduces seven principles to promote a thriving ecosystem of foundation models and ensure fair competition, categorized as access, diversity, and choice; flexibility, interoperability, and fair dealing; and transparency, accountability, and consumer protection. Finally, it stresses the importance of consumer protection, proposing measures to address new and existing harms, and encouraging dialogue and collaboration to foster a global environment that promotes fair competition and protects consumers' interests.