International Commerce
International commerce plays a big role in toy safety. In the first four months of 2006, China exported US$4 billion worth of toys. The United States contributed 70 percent of the global market by exporting US$15.2 billion in toys in 2005. The European Union accounts for 75% of the final disposition of these toys. From January 2005 through September 2006, products originating in China were responsible for about 48 percent of product recalls in the U.S., and a similar percentage of notifications in the EU. Lack of process control in sub-contracted vendors has been a contributing factor in recent high-profile cases.
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Famous quotes containing the word commerce:
“The Great Society is a place where every child can find knowledge to enrich his mind and to enlarge his talents.... It is a place where the city of man serves not only the needs of the body and the demands of commerce but the desire for beauty and the hunger for community.... It is a place where men are more concerned with the quality of their goals than the quantity of their goods.”
—Lyndon Baines Johnson (1908–1973)