This explainer explores the debate opposing competition in the Single Market and competitiveness in global markets. Some industry actors have argued that overly strict competition rules in the Single Market, particularly merger and acquisition rules, hinder the competitiveness of European companies on global markets. This argument can be debated from an economic perspective, and some Member States and experts have warned against the consequences for consumers and Small and Medium Enterprises of a relaxation of competition rules. The European Commission has recently engaged in this debate by publishing a proposal for new Merger Guidelines and a proposal to review the General Block Exemption Regulation. Beyond these proposals, the European Commission offers a broader response to the debate between competition in the Single Market and competitiveness in global markets, one that goes beyond this dichotomy by viewing a stronger Single Market as the springboard for global competitiveness.