ABSTRACT
Faure and Ma argue that it could be examined whether China would, in the long run, have an interest in following the US model where serious breaches of antitrust law can give rise to criminal liability and non-monetary sanctions, more particularly imprisonment. However, as is powerfully argued in the subsequent chapters by Van Aartsen, the current paradigm in corporate law and governance, through its focus on and promotion of self-interest and individualism, provides little scope for corporations to spontaneously follow corporate environmental responsibility. It is not only on the basis of the classic paradigm of market failure that governments will decide to intervene. However, even for Western countries, Van Aartsen argues that a free market approach, e.g. to corporate law and corporate governance, central to his chapter, may be a too narrow focus, given the shift in expectations that society has as far as the functioning of corporations is concerned.
