Hardball: Tainted products from China are good for the U.S.
By Marc Perton
At CR, we’ve been covering the ongoing issue of tainted products from China for some time. And many other media outlets have been doing so as well, from CNN’s Lou Dobbs, who warns of the dangers posed by products from “Communist China,” to the crew at Consumerist, who have dubbed the whole mess the “Chinese Poison Train.” But the Adam Smith award for economics reporting has to go to CNBC’s Erin Burnett, who last week said the following, with no hint of irony or satire:
I think people should be careful what they wish for on China—you know, if China were to revalue its currency, or China is to start making, say, toys that don’t have lead in them, or food that isn’t poisonous, their costs of production are going to go up. And that means prices at Walmart, here in the United States, are going to go up too. So, I would say China is our greatest friend right now.
Can’t wait to see what Erin has to say about global warming.
[Via Kos]
