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:
“Indeed, I believe that in the future, when we shall have seized again, as we will seize if we are true to ourselves, our own fair part of commerce upon the sea, and when we shall have again our appropriate share of South American trade, that these railroads from St. Louis, touching deep harbors on the gulf, and communicating there with lines of steamships, shall touch the ports of South America and bring their tribute to you.”
—Benjamin Harrison (1833–1901)