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:
“A mere literary man is a dull man; a man who is solely a man of business is a selfish man; but when literature and commerce are united, they make a respectable man.”
—Samuel Johnson (1709–1784)