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There is so much about this article from the FT that demands closer examination:

China's market regulator has taken its first major step towards curbing the monopolistic power of its tech giants, drawing up draft antitrust rules that have sent shares in companies such as Alibaba, Tencent and food delivery giant Meituan tumbling in Hong Kong.

On the one hand we have the relationship between state and business: here the state is limiting the range of motion of large businesses. But at the same time the intervention is premised on anti-competitive behavior: limits to business are justified by the threat to competition and thus the operation of capitalism itself. Maybe irony is dead.

The practices that regulators are taking aim at include using exclusivity clauses to hinder competition, treating customers differently based on their spending behaviour and data, and forcing customers to buy a bundle of products to access the ones they want.