Thursday, January 20, 2011
Obama bows to China while they steal,cheat and produce counterfeit U.S. goods
While we were toasting China's President Hu Jintao at the White House yesterday with steak and Cabernet, his nation's factories continued to pump out billions of dollars worth of counterfeit goods that were being sold right on the street in lower Manhattan and across the nation on the Internet.
On Canal Street, a vendor with a table full of knock-off designer handbags brazenly peddled a supposed Coach handbag to a Post reporter for $50 -- far from the price of the real bag, the US-based firm's Madison line, which sells for $698 in stores.
US Customs officials have determined that 90 percent of these fake goods, from pharmaceuticals to knock-off handbags, originate in China's factories -- robbing US firms of profits and workers of jobs.