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:
“Practically speaking, the opponents to a reform in Massachusetts are not a hundred thousand politicians at the South, but a hundred thousand merchants and farmers here, who are more interested in commerce and agriculture than they are in humanity, and are not prepared to do justice to the slave and to Mexico, cost what it may. I quarrel not with far-off foes, but with those who, near at home, coöperate with, and do the bidding of, those far away, and without whom the latter would be harmless.”
—Henry David Thoreau (1817–1862)