by Karl Denninger
If you don’t understand the issue with counterfeit goods and the wide-open door to cheating that it involves for nations like China that have “most favored” status, you’re nuts.
If you do nothing about it and allow a nation that does not instantly imprison the actors and confiscate any factory or facility used for such, you’re insane.
One Tuesday morning last April, a blonde woman from Sweden stood out from the crowd, leading nine Kenyan officers to a storefront she believed was selling counterfeit goods. But they weren’t after knock-off handbags, watches or sunglasses. The shop specialized in a far less sexy — and ultimately more dangerous — fake product: ball bearings.