Wednesday, August 15, 2007
Market working on China
The recall of toys manufactured in China is impressive in scope, and it may not be the end of it, especially given that Mattel is generally viewed as being more vigorous about quality control than most toysellers. Before we get too eager to place new restrictions on Chinese imports or make the regulations so overbearing as to restrict trade notably, it's worth remembering, as this post on Cafe Hayek reminds us, that the marketplace is handling the roblem rather expeditiously. It has been the companies, not the government, that has unearthed the problems, and it may well be that they'll have most of them fixed, and better procedures in place, before Congress gets around to holding hearings.