Surely vigorous merger scrutiny is not likely to hit foreign investors who have no presence in this market – on the contrary they will be the ones encouraged to invest by anti-trust merger regulation. In particular, robust anti-trust enforcement will facilitate those previously excluded by the high levels of concentration and by practices that have served to reserve markets for the privileged few. 7.
[10] None of this is necessarily bad news. Many of these shocks are in fact benign, in the sense that they have the potential to ultimately lift productivity and real wages and pave the way to a low-carbon economy. Central banks clearly need to step up their research and modelling capacities to understand their joint impact.