dani rodrik draws the parallel between defective chinese goods and defective american financial instruments (i.e. mortgage backed products) that begs to be made in a NYT article:
Politicians, regulators and financial specialists outside the United States are seeking a role in the oversight of American markets, banks and rating agencies after recent problems related to subprime mortgages.
Their argument is simple: The United States is exporting financial products, but losses to investors in other countries suggest that American regulators are not properly monitoring the products or alerting investors to the risks.
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