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Archived updates for Monday, August 09, 2004

60 Minutes: The (Counterfeit) Cost of Doing Business in China

How long would it take to make copies of Nike shoes?

The answer: 1,000 shoes within 10 days, at $4 a pair.

"This is the most profitable criminal venture, as far as I know, on Earth . . . Counterfeiting," said attorney Harley Lewin. “And your partners don’t kill you.�

"We don't want to ignore counterfeiting, but for those foreign companies, when they enter the Chinese market, I'm afraid they should also pay some cost due to the realities of China," Gao Feng, the head of China's anti-counterfeiting police unit, reportedly told the American television show.
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