G7 policymakers agreed to collectively seek early warning signs of developments that may reduce competition in digital markets

ChainCatcher news, according to Coindesk, G7 policymakers have agreed to collectively seek early warning signs of developments that may reduce competition in digital markets, and released a communiqué this week. "In this context, G7 competition authorities and policymakers are scanning the market for early warning signs of behaviors or market factors that could lead to market tipping or reduced competitiveness, and identifying key technologies and issues that may trigger competition concerns in the future."
The communiqué states: "Digital markets may pose competition issues." Markets characterized by network effects, economies of scale, digital ecosystems, and massive data accumulation can easily increase or create barriers to entry, tipping, and dominance.