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From: Webster's Revised Unabridged Dictionary (1913)

 Com·pete v. i. [imp. & p. p. Competed; p. pr. & vb. n. Competing.]  To contend emulously; to seek or strive for the same thing, position, or reward for which another is striving; to contend in rivalry, as for a prize or in business; as, tradesmen compete with one another.
    The rival statesmen, with eyes fixed on America, were all the while competing for European alliances.   --Bancroft.