The Foreign Subsidies Regulation: a welcome tool to level the playing field between European and non-European companies or another blow to a globalized economy?

In the EU, state aids granted by Member States have long been heavily regulated while companies can freely be aided by states in all the other places of the world. That could be a disadvantage for European companies, that the FSR is supposed to redress. But could it happen that the heavy administrative burden created by the new regulation, which applies to European companies as well as to non-European ones, and the possible retaliations/imitations in other countries end up harming everybody’s cross-boarder activities and hence the global economy?